Daily Market Report

Base Oil (SN150) is priced at ₹68/kg in Delhi and ₹61.5/litre in Kandla. In Bhiwadi, hydraulic and specialty oils range from ₹87 to ₹135/litre. UK imposes anti-dumping duties on engine oil and hydraulic fluid imports from Lithuania and UAE, aiming to protect domestic manufacturers from price undercutting and margin erosion.

Crude oil prices saw modest gains, with WTI at $64.19/bbl and Brent at $67.89/bbl. The Indian Rupee weakened to ₹85.34/USD. Russia now supplies 36% of India’s crude, outpacing OPEC. Domestic bitumen, base oil, and fuel oil prices remain stable. Market sentiment is bullish amid tightened supply and rising geopolitical risks.

Base oil prices in Asia remained soft in April amid sluggish demand and geopolitical uncertainty. Select grades like Bright Stock and Group III remain tight due to supply constraints. However, Group II prices faced downward pressure from rising inventories. Market outlook stays cautious as crude benchmarks decline and trade risks persist.

Petroleum prices showed mixed movement this week, with Brent crude closing at $66.48 and bitumen prices increasing slightly in India due to strong local demand. While no immediate disruptions have been reported from Middle Eastern tensions, underlying geopolitical uncertainty continues to influence supplier sentiment and price volatility, especially in markets like Iran. U.S.–China tensions and ongoing Iran-U.S. negotiations are also shaping market forecasts and investor behaviour.

India’s average crude oil import price has fallen below $70 per barrel for the first time since August 2021, offering refiners a breather amid global volatility. Despite international supply fluctuations and geopolitical tensions, Indian fuel demand remains strong. With record-high import dependence and steady domestic consumption, refiners are likely to benefit from improved margins and better procurement terms.

Oil prices have dipped to a four-year low, benefiting oil-importing nations like India through lower import bills and reduced inflationary pressures. Despite global market volatility and geopolitical tensions, India's economy stands to gain. However, domestic fuel prices remain unchanged amid uncertainty, while experts forecast crude to stay below $75/barrel.

India’s oil and gas sector is facing mounting pressure from weak global crude prices, macroeconomic uncertainty, and volatile equity markets. While refined product demand shows resilience, upstream players like Oil India are struggling. Domestic lubricant and fuel prices remain steady, but investor sentiment and stock performance are turning increasingly cautious.

India’s petroleum market is experiencing rising demand, driven by refinery expansions and strong downstream growth. Domestic product prices remain stable, while Saudi Aramco eyes investment partnerships with Indian refiners. Increased refining capacity and foreign interest signal India’s ambition to become a regional petrochemical hub and ensure long-term crude supply security.

Petroleum prices across India remain stable, with domestic exploration gaining momentum to reduce import dependency. With 144 oil blocks awarded and upstream investment projected at $100 billion by 2030, India is shifting focus toward energy self-sufficiency.

Petroleum product prices in India remain firm amid shifting global trends. Crude oil markets face pressure from rising U.S. inventories, trade war fears, and geopolitical tensions. India saw a modest bitumen price hike, while Iran's post-holiday supply may soon affect regional dynamics. The market outlook stays cautious and sensitive to global developments.

Petroleum prices have softened amid rising supply and weakening global demand. Saudi Arabia’s sharp price cut and OPEC+ production hike have triggered bearish sentiment, pushing Brent to a four-year low. Oil product demand remains weak, while investor caution grows due to geopolitical tensions, trade uncertainty, and global economic slowdown concerns.

Base oil prices remain stable to firm due to constrained supply and ongoing plant maintenance. Demand is cautious amid economic uncertainty and potential U.S. tariffs. India’s oil imports from the U.S. surged, while Russian crude remains a key component. Market participants anticipate volatility as geopolitical risks continue to evolve.