US DIESEL PRICES
US diesel below $6 a gallon at 2-month low on easing tensions, weaker demand
US diesel prices have decreased to below $6 a gallon after record highs that persisted for two months. This decline follows easing geopolitical tensions and reduced seasonal demand, which are relieving pressure on fuel markets. The national average retail diesel price recently hit $5.998, down from a peak of $6.519 in late September. Measures by the Trump administration aimed at easing fuel costs provided limited relief amid ongoing supply concerns.
Oil markets stay flush despite tanker attacks
Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries, said it pumped 10.5 million barrels a day in October, a level reached only once since 2022. Iraq and Kuwait also reported big increases, while the United Arab Emirates is now free of OPEC quotas, allowing it to pump as much as it wants. Gulf shipments nudged lower this week, but remain healthy despite a slew of attacks, according to TankerTrackers.com.
Donald Trump, Xi Jinping and Vladimir Putin plan unprecedented joint meeting on APEC sidelines, White House and Kremlin say
Trump has warmly embraced Xi after coming to a truce in their short-lived trade war last year and in spite of differences over the U.S. war with Iran and other tensions between the world's foremost economic powers. Similarly, Trump has sought to build his relationship with Putin, even as the Russian leader has persisted in his nearly 5-year-old war with Ukraine and as Moscow has deepened its military, intelligence and diplomatic partnership with Iran.
Trump, Xi and Putin plan an unprecedented joint meeting on the sidelines of APEC, White House says
The three leaders may meet during the Asia-Pacific Economic Cooperation summit. This unprecedented summit is expected to focus on nuclear arms discussions and regional tensions. While no significant agreements are anticipated, the meeting symbolises their ongoing diplomatic engagements.
Oil releases from IEA emergency stocks to pick up through February, agency says
Included in the release will be around 15 million barrels of diesel which are scheduled to be released by end-February, almost entirely from government stocks in France and Germany, at a pace of 4 million to 5 million barrels in January before easing in February, the IEA said in a monthly report.
First decade since Independence with over 4 pc agri growth, says PM Modi
Prime Minister Narendra Modi stated that Indian agriculture grew more than 4 percent per year in the past decade. He emphasized that many small farmers have improved their economic situation significantly during this time. The government invested heavily in supporting farmers, especially in fertilizer subsidies, to reduce their input costs. Modi urged farmers to adopt natural farming practices and diversify their crops to enhance income sources.
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Why is the glittering gold losing its sparkle?
After hitting a record near $5,600 an ounce in January 2026, gold has fallen roughly 29% from its peak. Here is what drives gold prices, why the rally reversed, and how investors can approach gold now.
West Asia crisis fuels crude conflict in Myanmar civil war
Myanmar imports 90 percent of its fuel oil, official figures show, making it particularly vulnerable to supply issues caused by the US-Israeli war on Iran.
US stocks: US market falls as hot inflation, hawkish Fed fuel rate-hike fears
US stocks closed lower after hotter-than-expected inflation data strengthened expectations of a December Federal Reserve rate hike and raised the possibility of more aggressive tightening. Rising Treasury yields and weakness in technology stocks, particularly Nvidia, weighed on the market, while investors also assessed hawkish Fed comments and Anthropic’s upcoming IPO.
US crude production to hit record high for fourth straight year in 2026, EIA says
The US Energy Information Administration expects crude production to reach a record 13.9 million barrels per day in 2026, rising to 14.3 million bpd in 2027. Diesel and gasoline prices are also forecast to increase in 2027. Brent crude is projected to average $97 per barrel in 2026 before easing to $86 in 2027.
Tanker carrying Russian diesel halts off US coast, shipping data shows
President Donald Trump last month announced a surprise deal with Moscow to import diesel from Russia to help lower prices at the pumps ahead of this month's US midterm elections.
Q2 Earnings Scorecard: Which sectors outperformed and which fell behind?
The September quarter results indicate strong revenue and profit growth in sectors like automobiles and banking. In contrast, sectors such as IT and pharmaceuticals showed weakness amid inflationary pressures. Automobile sector leaders like Maruti Suzuki and Bajaj Auto reported significant growth in sales and exports. L&T's orders surged, while the cement sector faced challenges with fluctuating prices.
Time to be contrarian? Are analysts behind the curve? 5 stocks from two segments of the oil and gas space
The tensions that drove oil higher are still lurking under the surface. A single statement, or a single strike, and they can surface again within days. Another round of trouble cannot be entirely ruled out. And if it comes and oil climbs again, much of the contrarian case we are making weakens with it. So the improvement is real, but it is not yet fully safe.
US gas prices drop after midterm elections as oil falls below $100 - But will the relief last?
Gas prices in the United States have recently seen a welcomed dip, giving consumers a much-needed break from rising costs. This decrease coincided with the aftermath of the 2026 US midterm elections, providing hope for reduced hostilities related to the Iran war. Nonetheless, experts advise caution, indicating that electoral outcomes alone cannot mitigate the complex geopolitical challenges influencing oil supply and prices, particularly with ongoing tensions like the Russia-Ukraine conflict.
Middle East oil price war heralds post-conflict glut: Bousso
The Strait of Hormuz has become a bustling corridor for Middle Eastern oil, with exports rising sharply since September. However, the ongoing constraints in demand and refining capacity alongside dwindling global crude inventories mean that producers are slashing prices to lure in buyers within a fiercely competitive arena. Analysts foresee a possible surplus driven by increased output from Gulf nations, and a stable peace could exacerbate market dynamics.
Why a 9% personal inflation rate could change your retirement corpus calculations
Equity can fall 30-40% in a bad year, so money needed in the next few years must never sit there. A conservative investor may hold less. Few can afford to hold none: avoiding equity swaps the risk of a temporary fall for the certainty of losing purchasing power.
IOC to buy crude, LPG ships as West Asia crisis exposes shipping risks
The move marks a potential shift in the company's shipping strategy, which has traditionally relied on a mix of time-charter and voyage-chartered vessels.
Gas prices in the US are nearly half of Europe's: Why are American drivers paying so much less?
American motorists are currently paying much less for fuel compared to drivers in the European Union. The average petrol price in the EU is almost double that of the US, highlighting significant market differences. Higher taxation in Europe contributes to this price discrepancy, making it important for consumers to understand. Diesel costs also reflect a noticeable difference, though the gap is smaller than for petrol.
Tata Motors, Ashok Leyland shares rocket up to 12%. Here are 2 reasons fuelling the sharp surge
Ashok Leyland and Tata Motors shares rallied, tracking a sharp fall in crude oil prices and a broader market recovery amid hopes of a negotiated settlement to the Iran conflict. Brent crude plunged nearly 9% in the previous session and extended losses on Thursday, easing fuel cost concerns for fleet operators.
US to loan about a third of heating oil reserve in bid to tame prices
The US Energy Department will loan 300,000 barrels of fuel oil from its emergency heating reserve to four companies to ease supply pressures and rising prices ahead of winter. The release, nearly a third of the reserve, follows calls from bipartisan senators as Middle East disruptions linked to the Iran war push fuel costs higher.
From Iran to trade, how the US midterms impact the rest of the world
US Democrats' recent midterm election victories could influence global relations, especially concerning Iran and Israel. The potential for a peace deal with Iran seems viable as US voters oppose prolonged conflicts. In Ukraine, Democrats may propose increased financial and military aid, which could face delays. Additionally, Asian countries may reconsider investment pledges to avoid tariffs in light of these outcomes.
Congress cites US mid-term results to slam 'One Nation, One Election' idea
The Congress party used the results of the recent US mid-term elections to emphasize accountability in democracy. Congress general secretary Jairam Ramesh criticized the Modi government's One Nation, One Election proposal as detrimental to accountability. The elections showed significant losses for the Republican Party, reflecting voter discontent with Trump's policies. Voters in key states flipped gubernatorial positions, impacting the Republican stronghold.
Adam Hamilton defeats Trump-backed Roger Marshall in Kansas, ending 94-year Democratic Senate drought
Adam Hamilton achieved a historic victory in Kansas, becoming the first Democrat elected to the US Senate in 94 years. He defeated Trump-backed Republican Roger Marshall in a contest initially deemed safely Republican. Hamilton, who emphasizes affordability and bipartisanship, campaigned effectively amidst a changing political landscape. The race gained attention from notable figures, including Donald Trump and Vice President JD Vance.
Oil edges down as investors await US midterm election results
Oil prices decreased due to investor caution ahead of the US midterm elections and ongoing peace negotiations. Brent futures and West Texas Intermediate crude both saw declines despite an unexpected drop in US crude stocks. Vote counting for the midterm elections continues, which may influence the Republican party's control of Congress. Peace talks in the Middle East were also impacted, especially involving the US and Iran.
US Midterm Elections 2026: Gas prices hit record $4.12 per gallon on Election Day as Americans head to polls
Gas prices today: US voters faced record-high fuel prices on Election Day, with average gasoline prices reaching $4.12 per gallon and diesel hitting $6.28. Rising fuel, grocery and housing costs have become key concerns as Americans vote to decide control of Congress, with more than 60 million ballots already cast before polls opened.
Indian oil refiners expect healthy margins amid global supply disruptions
A combination of these factors offer Indian refiners an opportunity to capitalise on stronger diesel, gasoline and aviation turbine fuel (ATF) cracks. Reliance Industries (RIL), Bharat Petroleum Corporation (BPCL), Indian Oil Corporation and Hindustan Petroleum Corporation (HPCL) reported record refining performances in the September quarter (Q2) and expect the run to continue.
Rising crude prices could push India's inflation by upto 1 percentage point, diversified imports helping secure oil supplies: EY's Gaurav Moda
Gaurav Moda, Partner and Energy Industry Leader at EY India said the increase in crude oil prices from an average of $60-65 per barrel to $90-95 has significantly raised India's energy import costs, even as the country continues to prioritise securing supplies amid geopolitical uncertainties.
US oil companies aim to squeeze more out of refineries as war supply crunch weighs
US oil companies are enhancing refinery capacities and reopening closed plants due to global supply disruptions. ExxonMobil and Chevron reported record profits, attributed to soaring commodity prices and refinery margins. Additionally, ongoing conflicts have severely impacted refining output, particularly in Russia and Iran. Analysts suggest that it may take until next year for supply chains to stabilize.
Petrol price in India cheaper than US, UAE, China, Canada: Global average petrol rate is Rs 150, diesel Rs 159, data shows
Petrol rate in India are lower than in the US, UAE, China, Canada and several other countries, according to global fuel price data. While the average global petrol price is around ₹150 per litre, India's rate is approximately ₹109. The comparison also shows huge differences across countries, with Hong Kong among the most expensive markets at over ₹421 per litre.
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