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Ethanol blending hit 20 percent but oil import dependence keeps surging

Ethanol blending hit 20 percent but oil import dependence keeps surging

India’s ethanol blending of petrol has reached 20%, but the bigger story is stubborn: crude oil import dependence has risen to over 90% from 84% earlier. The ethanol switch is saving only about USD 3 billion a year—roughly 2% to 3% of the total oil import bill—so the expected gains are not translating into lower reliance.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Brent Crude Surges for Fourth Day as US Iran Standoff Threatens Hormuz Supply

Brent Crude Surges for Fourth Day as US Iran Standoff Threatens Hormuz Supply

Global crude oil prices rose for a fourth straight session on April 23, with Brent climbing above $104 a barrel. Traders are weighing signals that tensions may ease against renewed fears of a sustained Middle East supply deficit. The rally follows the collapse of peace talks and a US naval blockade targeting Iranian ports, reigniting concerns around Hormuz shipping routes.

Summarised by Beize from a story on Republic on 24 Apr 2026

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Crude oil surges after Strait of Hormuz blockade rattles Nifty 50 and Sensex outlook today

Crude oil surges after Strait of Hormuz blockade rattles Nifty 50 and Sensex outlook today

Nifty 50 and Sensex are set to open lower on Thursday, April 23, as investor sentiment stays weak amid surging crude oil prices. The rise is linked to the ongoing blockade of the Strait of Hormuz, a key global shipping chokepoint. With GIFT Nifty also pointing to a negative start, traders are watching how oil moves could shape the morning session.

Summarised by Beize from a story on Republic on 24 Apr 2026
Nifty 50 And Sensex To Open Higher As Oil Surge And Middle East Tensions Roil Markets

Nifty 50 And Sensex To Open Higher As Oil Surge And Middle East Tensions Roil Markets

Indian markets are expected to start higher on Friday, with Gift Nifty indicating a positive opening for Nifty 50 and Sensex. The outlook comes even as crude oil prices spike and US-Iran tensions intensify in the Middle East, creating a volatile backdrop. Traders will now watch how global cues and risk sentiment balance at open.

Summarised by Beize from a story on Republic on 24 Apr 2026
India bets on ethanol to cut crude imports and lift farmers—now aviation and high blends enter

India bets on ethanol to cut crude imports and lift farmers—now aviation and high blends enter

India is rapidly scaling ethanol, a sugar-based fuel, to reduce dependence on imported crude and raise incomes for farmers. Policy shifts are enabling higher ethanol blends for vehicles and even aviation, with plans moving toward E20 and exploring E100. The effort brings agriculture, energy, and transport sectors together for a coordinated energy transition.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Fuel Prices Unchanged April 24 as Hormuz Crisis Pushes Global Oil Higher

Fuel Prices Unchanged April 24 as Hormuz Crisis Pushes Global Oil Higher

Fuel prices in India stayed unchanged on April 24 despite global crude volatility linked to rising West Asia tensions and the Strait of Hormuz crisis. Oil marketing companies reportedly update petrol and diesel rates daily from 6 AM, using international crude benchmarks. In major cities including Kolkata, Mumbai and Chennai, drivers may not see any change even as shipping disruptions keep international prices under pressure.

Summarised by Beize from a story on Republic on 24 Apr 2026

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India can still grow above 7 percent even with crude at 100 a barrel

India can still grow above 7 percent even with crude at 100 a barrel

India’s economy could keep expanding above 7 percent a year even if crude oil stays elevated at about USD 90–100 per barrel, according to Assocham. The industry group points to historical patterns showing consumption-driven resilience and expects growth to remain strong through 2026–27, despite some global forecasts calling for a slowdown.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
India crude oil production sinks again for 11th year as imports tighten the noose

India crude oil production sinks again for 11th year as imports tighten the noose

India’s crude oil and natural gas output kept falling in 2025-26, extending an 11-year slide as ageing fields drain production and new discoveries fail to replace losses. The result: rising import dependence. Even with policy reforms, foreign investment remains limited and fears over policy stability are discouraging exploration needed to reverse domestic decline.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Rupee crosses 94 per dollar again as RBI eases forex rules and crude surges

Rupee crosses 94 per dollar again as RBI eases forex rules and crude surges

The Indian rupee slid for a fourth straight day, settling at 94.11 per US dollar, as the RBI removed restrictions on foreign exchange trading. Traders also pointed to higher crude oil prices, with Brent futures crossing $100 a barrel, adding pressure on the currency. The move marks a fresh stretch of weakening amid global price shocks.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Rupee slips for third straight day as crude oil and US Iran threats hit dollars

Rupee slips for third straight day as crude oil and US Iran threats hit dollars

The Indian rupee fell for its third consecutive session, ending at 93.79 to the dollar after losing about 30 paise. The move was driven by a jump in crude oil prices as geopolitical tensions in West Asia persist and US President Trump’s threats toward Iran raise supply and cost concerns.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Crude oil hits four year low but petrol prices stay stubbornly high in India

Crude oil hits four year low but petrol prices stay stubbornly high in India

Crude oil has fallen to a four-year low, and global rates are down nearly 30% in the last quarter. Oil marketing companies are buying cheaper crude and seeing higher margins, but retail fuel prices haven’t dropped in months. The reason: taxes and duties remain high, shielding consumers from the benefits.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Rupee hits over decade low as oil shock and foreign outflows bite

Rupee hits over decade low as oil shock and foreign outflows bite

The Indian rupee has slid to its weakest level in more than a decade, pressured by surging crude oil prices and sizable foreign portfolio outflows. While some analysts believe the currency is undervalued and could offer opportunities for long-term investors, a quick bounce looks unlikely. Rising import demand and broad risk aversion continue to weigh on near-term recovery.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Rupee slips further to 94.25 per dollar as crude and dollar surge

Rupee slips further to 94.25 per dollar as crude and dollar surge

The Indian rupee fell 24 paise to 94.25 against the US dollar in early trade, extending a fifth straight day of decline. Traders blame a strong US dollar, volatile crude oil prices, and heightened West Asia tensions. Foreign investors are also pulling back from Indian equities, adding pressure as Sensex and Nifty trade lower.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
India keeps retail fuel prices steady despite global crude shocks, exposing limits of market linked claims

India keeps retail fuel prices steady despite global crude shocks, exposing limits of market linked claims

As crude prices whipsawed amid West Asia tensions, India’s retail fuel rates stayed largely unchanged, unlike other countries and even private retailers. The divergence casts doubt on the credibility of “market-linked” pricing, and renews calls to decontrol oil prices while replacing broad cross-subsidies with targeted DBTs for needy households.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Mutual funds poured Rs 80000 crore into equities during March crash as FII fled

Mutual funds poured Rs 80000 crore into equities during March crash as FII fled

During India’s March selloff, mutual funds are estimated to have deployed about Rs 80,000 crore into equities, cutting back cash holdings as they moved to offset heavy foreign institutional investor selling. The purchases arrived during an over 11% market correction and amid rising crude oil prices tied to the Gulf crisis, underscoring a sharp inverse link between oil and Indian equities.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Rupee’s next move depends on two shocks as oil spikes and funds flee risk

Rupee’s next move depends on two shocks as oil spikes and funds flee risk

Trump’s ultimatum and Iran’s retaliation threats have rattled global markets, pushing crude oil higher while investors rush out of risk. With tensions escalating and economies under strain, currencies like the rupee face pressure from both the oil channel and foreign portfolio flows. The key question now is which force dominates next—and how deep the decline could go.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Oil spikes spark retail frenzy in crude derivatives as traders pile into short tenure trades

Oil spikes spark retail frenzy in crude derivatives as traders pile into short tenure trades

Global oil prices jumped after the US-Iran conflict, and Indian retail traders rushed into crude derivatives. March saw a sharp spike in futures and options volumes, even as trading tightened and margin requirements increased. Despite higher costs, traders leaned into short-tenure positions, turning volatility into rapid, high-frequency bets on crude moves.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Gold slips near 1.51 lakh as silver falls to Rs 2,300 amid oil surge and war fears

Gold slips near 1.51 lakh as silver falls to Rs 2,300 amid oil surge and war fears

Gold and silver opened lower on MCX as crude oil prices pushed toward $110 per barrel, reviving inflation concerns and uncertainty over rate expectations. Tensions around the Strait of Hormuz further boosted volatility in bullion markets. Analysts say the near-term outlook is likely range-bound, with traders watching key support and resistance levels.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Indian rupee ends flat as importer dollar bids erase oil retreat gains

Indian rupee ends flat as importer dollar bids erase oil retreat gains

The Indian rupee closed nearly unchanged on Wednesday, stuck between two opposing forces. A retreat in crude oil prices offered mild support, but steady dollar demand from local importers, including oil marketing companies, offset the boost. With importer bids continuing to absorb gains, the currency ended flat despite the softer energy price backdrop.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Market slumps as crude spikes and Fed turns hawkish HDFC Bank Infosys Adani Total move sharply

Market slumps as crude spikes and Fed turns hawkish HDFC Bank Infosys Adani Total move sharply

Stocks ended a turbulent session lower as soaring crude prices and a hawkish Federal Reserve rattled risk appetite. Against this backdrop, individual movers stood out, with HDFC Bank, Adani Total Gas, and Infosys seeing notable share action. Sector-wide selling in autos and IT compounded pressure, widening the gap between gainers and losers.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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