Indian Energy Minister says refineries are working at high-capacity utilisation. Domestic diesel and petrol availability is secure.
Newsquawk Staff ·
- Refineries operating at high capacity utilisation.
- Availability of petrol and diesel fully secured.
What it means
The Indian Energy Minister's confirmation of high-capacity utilization at refineries provides a positive signal for domestic fuel supply, particularly diesel and petrol. This suggests that there are no immediate supply constraints that could affect prices, indicating stability in the energy market. Given India's significant role in global oil demand, this news might mitigate upward pressure on crude prices amidst ongoing geopolitical tensions.
- US Weekly Private Energy Inventory Data (bbls): Crude -2.0mln (exp. +0.5mln), Gasoline +2.4mln (exp. -1.3mln), Distillate +0.4mln (exp. -0.9mln), Cushing -0.5mln
- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
- Russian refineries’ crude processing up 25% since drone attacks stopped in mid-October, according to reports, citing sources
- US President Trump says believes I will visit tanker in Texas with Venezuela oil; thinks Secretary of State Rubio will be with him; we are going to accept 1mln bbls of Venezuelan oil
- Russian Deputy PM Novak says domestic refineries are bringing units back online very quickly following maintenance. Russia and the US could begin cooperating on Arctic LNG projects
Related headlines
- Russian President Putin says Russia should avoid going too far with the green agenda and must consider ending the ongoing conflict and lifting sanctions9 hours ago
- Tanzania announces discovery of 23bcf of estimated natural gas reserves in Mnazi bay10 hours ago
- Senior Ukrainian official says the ceasefire in Oleshky will last until November 1st10 hours ago
- OPEC+ is reportedly expected to maintain December oil production targets at Sunday's meeting, sources say12 hours ago
- Saudi Arabia's Ras Tanura refinery (550k BPD) was reportedly targeted by missiles, triggering powerful explosions and large plumes of smoke, Iranian state media IRIB reports, citing Arab media14 hours ago
- PREVIEW: BoC Rate Decision and Governor Statement due Wednesday 28th October, 2026 at 13:45GMT/09:45EDT4 hours ago
- US Midterms (7 days out): Democrats’ early-vote lead narrows in 8 states; Texas and Nebraska flip to Republicans, South Carolina now tied10 hours ago
- Israeli election exit poll: Netanyahu bloc 55 seats; opposition bloc 49; Arab parties bloc 16, i24NEWS reports1 hour ago
- Netanyahu’s Likud Party to be largest in Knesset, reports Channel 12 Exit Poll; no clear winner in Israeli election1 hour ago
- US and Russia are discussing potential postwar business deals, including JV for US oil majors off Sakhalin and resumed sales via the Druzhba pipeline, as part of wider talks to end the war in Ukraine, reports FT citing sources2 hours ago
- US Energy Secretary Wright says Iran war has come at a cost3 hours ago
- Iranian President Pezeshkian and Russian President Putin discussed energy cooperation and trade4 hours ago
- PREVIEW: Federal Reserve Rate Decision due Wednesday, October 28th at 18:00GMT/14:00EDT5 hours ago
- Iranian President Pezeshkian, at a meeting with Russian President Putin, says there is no point in hoping for the US to resolve problems in the Middle East5 hours ago
- Russian President Putin says he discussed the situation in the Middle East one-on-one with Iranian President Pezeshkian and it is a reason for concern, according to Russian press5 hours ago