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FORGOTTEN HISTORY: 3 | History Defined

Oil Price Today (August 13): Crude oil dips below $90 despite Strait of Hormuz deadlock. Here’s why

The Organisation of Petroleum Exporting Countries cut its forecast for global oil demand growth in 2026 to 580,000 barrels per day in its monthly oil market report released on Wednesday. The International Energy Agency also lowered its outlook on Wednesday, saying it now expects oil consumption to contract by 1.6…

The Economic Times

US oil reserve just hit a low not seen since 1983

President Donald Trump authorized the release of 182 million barrels from the Strategic Petroleum Reserve in March shortly after launching the Iran War

The Independent UK

Oil climbs 5% as Iran, US both demand compensation and Hormuz hopes fade

Oil prices rose significantly as Iran and the United States exchanged compensation demands. Prospects for reopening the Strait of Hormuz dimmed due to these escalating tensions. Ukraine continued to strike Russian refineries and tankers, further impacting supply. Saudi Aramco postponed a refinery restart after recent Houthi attacks. US Strategic Petroleum…

The Economic Times

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U.S. Strategic Petroleum Reserve Falls To Its Lowest Level In More Than Four Decades As Hormuz Strait Remains Closed

The Strategic Petroleum Reserve fell to its lowest level in more than 40 years as the Strait of Hormuz remains largely closed.

International Business Times

Ethanol-blended diesel fails safety tests as flash point drops sharply

Ethanol-blended diesel failed safety specifications, which sharply lowered its flash point. This technical issue effectively rules out wider use of the fuel. India seeks to expand ethanol use as a transport fuel and explore new outlets. The government is also examining ethanol as a potential cooking fuel alternative. This initiative…

The Economic Times

India expands LNG sourcing from 6 to 15 countries to cut supply risks: Govt

India has nearly trebled its liquefied natural gas suppliers to fifteen countries. The nation also broadened its crude oil sourcing network to forty-one countries. This diversification reduces dependence on any single supplier or transit route. India is also expanding its strategic petroleum storage capacity to manage supply shocks. These measures…

The Economic Times

The world has changed. African countries must rethink how they grow their economies

The prolonged disruption of shipping through the Strait of Hormuz has exposed how vulnerable Africa’s economies are to geopolitical shocks. Fuel prices have remained elevated, squeezing economies that depend heavily on petroleum imports from the Middle East. These include Ethiopia, Kenya, Mozambique, South Africa, Tanzania and Uganda.

The Conversation

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New LPG subsidy strains fuel fund

The Energy Ministry has announced an increase in the subsidy for liquefied petroleum gas (LPG) to keep domestic cooking gas prices unchanged, though the move adds financial pressure on the state Oil Fuel Fund.

Bangkok Post

Are Heating Oil and Distillates Heading for Even Higher Highs?

Brent North Sea crude oil is the benchmark for Middle Eastern petroleum. Brent is most suited for refining into medium distillates, including heating oil, jet fuel, and diesel fuel. Heating oil futures are a proxy for the other medium distillates.

Barchart

Oil shortages escalate from wars in Iran and Ukraine, with few signs of relief

The global energy crisis triggered by two wars is set to worsen, as Ukraine pummels Russia’s refining industry and Iranian attacks continue on Middle Eastern oil production and refining. Further, the nature of the destruction and the growing number of fronts and warring parties involved may herald a new era…

The Conversation

Stocks in news: Paytm, LIC, Airtel, BSE and ONGC

Markets extended gains on Monday, driven by easing oil prices and strong quarterly earnings. Paytm's parent company sees investors selling shares worth up to Rs 2,002 crore. The government will offer shares in LIC to non-retail investors starting Tuesday. Airtel, ONGC, and BSE will announce their first quarter results today.…

The Economic Times

Chevron launches high-speed boat to transport oil workers

Chevron Thailand Exploration and Production is enhancing its offshore petroleum operations by deploying the world's first trimaran crew vessel to transport workers to drilling platforms in the Gulf of Thailand.

Bangkok Post

ONGC to reserve half of new oil storage for strategic reserves

India's Oil and Natural Gas Corp will reserve half of its planned oil storage. This new facility will meet the country's strategic petroleum needs. India is expanding its strategic petroleum reserve capacity with private participation. The nation plans additional storage facilities in Odisha and Padur. India currently has capacity to…

The Economic Times

Major oil companies reap profits as US-Iran fighting drives energy prices higher

Oil and gas giants raked in massive spring profits while fighting between Iran and the US impeded petroleum shipments and consumers around the world paid more for fuel and confronted shortages.

Euronews

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The Economic Times

Corporate, personal loans drive 63% of bank credit growth: SBI research report

Corporate and retail loans fueled bank credit growth during the April-June quarter. Industry and personal loans together accounted for sixty-three percent of this expansion. Petroleum, infrastructure, engineering, and chemicals led industry credit growth significantly. Loans against gold jewellery emerged as the top personal lending contributor. These key sectors drove the…

Times Life

Glycerin Is the Most Affordable Skin Moisturiser Indian Beauty Routines Have Always Ignored

What Glycerin Actually Does to Your SkinGlycerin is a humectant. That single fact explains everything. It pulls water from the air and from the deeper layers of your skin up into the outermost layer, the stratum corneum, and holds it there. A 2016 study published in the journal Skin Pharmacology…

The Economic Times

Petrol could cost Rs 125/litre without ethanol blending: Government

The Ministry of Petroleum defended the Ethanol Blended Petrol Programme against criticisms. It stated petrol prices would have risen significantly without this initiative. This program provided substantial financial relief to consumers during global oil volatility. Ethanol blending has saved foreign exchange and reduced carbon emissions significantly.

The Economic Times

In 2008, the next big car innovation didn't come from steel, it came from coconuts, and the auto industry took notice

Coconut fiber car parts: Ford Motor Company and Scotts Miracle-Gro tested coconut fibers for vehicle components. Baylor University researchers also developed technology for using coconut fibers in automotive interiors. This initiative aimed to reduce petroleum use and create lighter vehicle parts. The projects sought to create new markets for coconut…

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Barchart

Occidental Petroleum Stock Outlook: Is Wall Street Bullish or Bearish?

Despite Occidental Petroleum's outperformance relative to the S&P 500 Index over the past year, Wall Street analysts remain cautiously optimistic about the stock’s prospects.

The Economic Times

By how much will E20 petrol reduce your car's mileage? One ministry says one thing, another says another

The Road ministry said E20 petrol might hit your mileage by 2-6%, based on a study by ARAI, SIAM, and Indian Oil Corporation. The statement sparked a buzz because just a few days earlier, Petroleum ministry had given a different figure.

The Independent UK

Oil companies are expected to reap big profits because of US-Iran conflict

Analysts are expecting major oil companies to report large profits while fighting between Iran and the U.S. impeded petroleum shipments

The Economic Times

Govt says E20 fuel safe for vehicles, defends ethanol blending programme

The government has defended its ethanol blending program, stating no engine damage has been found. Extensive testing and field experience confirm E20 petrol is safe for vehicles. This program strengthens India's energy security and shields consumers from oil price volatility. Public sector oil companies incur under-recoveries to maintain stable fuel…

Barchart

Corn Pushes Lower on Wednesday

Corn futures gave back the bounce from Tuesday, with contracts closing the Wednesday session down 2 to 9 ½ cents, led by the nearbys. The CmdtyView national average Cash Corn price was down 9 1/2 cents at $4.19 3/4. EIA’s weekly Petroleum Status Report showed ethanol production up another 39,000...

Barchart

Corn Facing Wednesday Weakness

Corn futures are down 8 to 9 cents so far across most contracts on Wednesday, giving back the bounce from Tuesday. The CmdtyView national average Cash Corn price is down 8 1/2 cents at $4.28 1/4. EIA’s weekly Petroleum Status Report showed ethanol production up another 39,000 bpd in the...

International Business Times

America's Emergency Oil Reserve Keeps Falling To Decade Lows. Auditors Warn It May Not Be Ready For Another Crisis

The U.S: Strategic Petroleum Reserve fell this week to its lowest level since March 1983 after the federal government withdrew a total of 352 million barrels of crude oil over the past four years to respond to geopolitical conflicts.

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