RBI wants to see how evolving risks to the inflationary outlook play out, particularly food inflation and geopolitical tensions, before cutting the policy rate
At the moment, the likelihood of a blockade of the Strait of Hormuz is low. However, in the case of such an event, crude prices may spiral out of control and disrupt the world economy as it is a vital artery carrying about a fifth of the world's oil.
While major central banks across the world have embarked on an easing cycle, the RBI is unlikely to follow the suit in October MPC meet amid the evolving geopolitical risks
Oil prices have a direct bearing on the profit margins of upstream oil companies and paint manufacturers.
MD and CEO of Essar Oil, LK Gupta, tells CNBC-TV18 that the profitability of the company was hurt by falling crude prices and the sharp rupee depreciation during the quarter.
In an interview to CNBC-TV18, Jonathan Barratt of barrattsbulletin.com discusses trading ideas of select commodities such as gold, copper and crude oil.
Weak economic data saw Brent crude prices fall to a 16-month low, below USD 98 a barrel, on Monday. Voicing the same concern is David Lennox of Fat Prophets. He says this price correction in Brent crude prices is the result of a slowdown from China, to Europe to the US.
Crude oil futures dropped on Thursday by more than 1%, ending May with their biggest monthly decline in more than three years as bloated US stockpiles and weak economic data added to worries about the euro zone crisis, all dampening oil demand prospects.
Hopes of a Greek bailout deal and rumblings from Iran over crude supply blockages are elevating Brent crude prices. In an interview to CNBC-TV18, Bill O'Neill, the founder of Logic Advisers gives his short-term outlook on crude.
A close look at the latest figures put out by the Reserve Bank of India (RBI) shows that credit growth was largely due to borrowing by the oil marketing companies (OMCs). If this borrowing comes down, credit growth can even become negative.
Brent crude prices fell on Friday in choppy trading as Europe's debt problems helped the dollar index rebound, extending oil's decline a second day after consuming nations announced they were tapping strategic reserves.
Crude oil prices held near two-and-half year peaks on Thursday as worries about supply disruption persisted given ongoing unrest in Libya, but upbeat US economic news and a firmer Wall Street helped Asian stocks post modest gains.
In an exclusive interview with CNBC-TV18’s Latha Venkatesh and Soniya Shenoy, Mahantesh Sabarad of Fortune Finance who tracks the aviation space, gives his outlook on the possible fall in profitability for the aviation sector at the back of soaring brent crude prices.