Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
Oil prices extend losses on rising U.S. fuel inventories
Oil prices fell further due to a significant increase in U.S. fuel inventories, with Brent crude and West Texas Intermediate both dropping by 0.4%. Despite the drop, concerns over tighter supplies from OPEC and Russia limited further declines. Market dynamics are influenced by winter demand and potential changes in U.S. policies with the new administration.
Fintech startup AtoB to open Bengaluru R&D centre, expand global footprint
Founded in 2019, AtoB sees major opportunity in modernising payments for the $1 trillion commercial fuel and transportation industry, particularly trucking. It partners not only truckers and small businesses but major banks as well as oil and gas companies, building a digital infrastructure to bring them together, cofounder and CEO Vignan Velivela said.
Beijing eyes cut in fuel oil imports amid boost to consumer subsidies
The rise in import duties, which comes on top of a separate policy last October to reduce tax rebates on fuel oil shipments, will further crimp margins for China's refining sector that has been reeling from lacklustre margins since last year.
Airbus overcomes slow start, delivers 766 jets in 2024
Airbus SE delivered 766 aircraft in 2024, just below its 770 target. The A321neo model constituted 60% of these deliveries. Airbus also secured 826 net orders, bringing its backlog to 8,658 planes. The company considers 2024 a good year despite a challenging environment, according to Christian Scherer, the CEO of Airbus's commercial aircraft unit.
India made hydrogen fuel train engine more powerful than others: Ashwini Vaishnaw
Railway Minister Ashwini Vaishnaw revealed that Indian Railways has created the world's most powerful hydrogen fuel-run train engine, with 1,200 horsepower. The first trial is set to occur soon in Haryana. This technology could also be used in trucks and tugboats. Vaishnaw discussed transforming Odisha into an IT hub in the next two to three years.
Oil heads for weekly gains on colder weather, Chinese policy support
Oil prices rose on Friday, driven by cold weather in Europe and the U.S., and economic stimulus from China. Brent crude futures reached $76.51 per barrel, and West Texas Intermediate hit $73.96. The gains were supported by increased demand for heating oil, a drop in U.S. crude stockpiles, and a fall in the U.S. oil rig count.
To understand Trump and Biden, look to Reagan and Carter
As Donald Trump prepares to reverse Joe Biden's climate initiatives, a historical parallel emerges with Ronald Reagan's undoing of Jimmy Carter's environmental policies. Despite setbacks, Carter's advances in clean energy and the EPA have lasting impacts, underlining their importance in the ongoing transition to renewable power and environmental preservation.
Oil rises from two-month highs on optimism over policy support for growth
Oil prices continue to rise, reaching their highest levels in over two months due to anticipated government policies aimed at reviving economic growth worldwide. Lower interest rates and China’s proactive measures are expected to stimulate fuel demand. Additionally, a potential cold snap in the U.S. and Europe may increase diesel demand.
Joe Biden issues major coastal protection before Trump handover
US President Joe Biden has banned offshore drilling across the entire Atlantic and Pacific coasts, as well as parts of the Gulf of Mexico and Bering Sea. This action, aimed at protecting over 625 million acres of waters, is part of efforts to transition to a clean energy economy and address the climate crisis.
IOC shares in focus as co to provide fueling services at Noida International Airport
Under a 30-year concession agreement, IOC will operate fuel stations at three key locations within the airport: near the main western access road for passengers, at the airside for airport operations, and close to the eastern cargo precinct, as reported by ET earlier.
Donald Trump royally frustrated as Joe Biden uses 72-year-old law to give the President-elect a slap in the face
Recent reports have revealed that US President Joe Biden have permanently banned a latest offshore oil and gas drilling at the US coastal waters by using a 72 year old law which eventually includes the entire East Coast. Speculations are on the rise that this certain move by Joe Biden has come as a blow for US President-elect Donald Trump before he is all set to take the office again.
Prices of tomato, potato in bitter taste; home-cooked meals get costlier in December: Report
Prices of home-cooked meals rose in December due to dearer tomato and potato prices. The average cost of preparing a vegetarian thali increased by 6 percent compared to last year. The cost of a non-vegetarian thali rose by 12 percent. Tomato and potato prices surged, while broiler costs also contributed to the increase.
Rising domestic demand for petrol, diesel to offset compressed GRMs in FY26
India Ratings and Research (Ind-Ra) expects GRMs to remain subdued during FY26, similar to H1 FY25, on account of slowing global consumer and industrial demand, particularly in China
India’s refined petroleum product exports rose in October aided by petrol and jet fuel
India’s refined petroleum product exports increased by 20 per cent year-on-year in October 2024, says Xavier Tang, Market Analyst at Vortexa
Nayara Energy to expand retail network by adding a fuel station per day
Nayara Energy plans to add 400 petrol pumps this year, expanding its network of 6,500+ outlets across India. The firm aims to grow its retail presence in states like Gujarat, Maharashtra, Tamil Nadu, and Rajasthan, and invites new dealership applications to boost local entrepreneurship.
Oil hovers at highest since Oct on cold weather, China stimulus
Oil prices reached their highest levels since October as colder weather in the Northern Hemisphere and Beijing's economic stimulus measures boosted global fuel demand. Brent crude futures rose to $76.66 per barrel, while U.S. West Texas Intermediate crude reached $74.18 per barrel.