The inflows of Russian crude oil have risen sharply since the US-Iran war began and imports via the Strait of Hormuz were disrupted. In fact, crude imports from Russia are now nearing lifetime monthly highs!
Nayara Energy has increased petrol and diesel prices. This move comes as global oil prices climb due to the Middle East crisis. Other fuel retailers are taking different approaches. Some are absorbing losses, while state-run companies have kept standard fuel prices unchanged since April 2022. Premium petrol prices have risen.
The bank has reduced its 12-month Nifty target, for end-March 2027, to 25,900 from an earlier 29,300. This suggests expected returns of about 13% in rupee terms and 12% in dollar terms over the next year, which is lower than the 19% upside projected for the MXAPJ index.
India’s fuel supply remains stable and secure. The government assures citizens that petrol, diesel, and LPG are readily available nationwide. Officials are combating a misinformation campaign designed to create panic. Strategic reserves are robust, covering approximately 60 days of supply. Domestic production and imports ensure continuous availability of essential fuels.
