fuel stocks

Maharashtra government issued a statewide advisory against panic buying and hoarding of fuel, assuring adequate petrol and diesel stocks. The move follows a surge in demand and reports of industrial consumers buying from retail pumps, straining supplies for ordinary citizens. Authorities are intensifying inspections and warning of legal action for unauthorized transactions and hoarding.

No fuel shortage, but shift from credit to advance pay forcing pumps to ration sales

Indian markets saw a positive trend as US stocks rallied, driven by a strong comeback in AI-linked technology shares. Lower oil prices provided further relief, boosting airline stocks and easing bond market pressure. Investors are now keenly awaiting crucial US inflation data, with expectations of a potential Federal Reserve rate hike later this year.

Government assures sufficient fuel stocks amid panic buying and dryouts in select states. Joint Secretary Sujata Sharma cited increased demand and logistical issues, not shortages. Fuel prices have risen significantly, with state-run companies still facing losses. Citizens are urged to conserve fuel and explore alternatives.

Oil Marketing Companies are still facing significant under-recoveries of nearly Rs 700 per domestic LPG cylinder. Despite government efforts to boost domestic production and secure imports, this financial strain persists. Meanwhile, LPG demand has moderated due to reduced commercial use and improved delivery systems, ensuring stable supplies.

Commercial LPG prices have risen by up to Rs 53.50 per cylinder nationwide, effective June 1st. This adjustment aims to bolster fuel reserves amid West Asia conflict concerns. The government is pushing for 30 days of LPG reserves and intensifying anti-hoarding measures, assuring sufficient fuel stocks despite import reliance.

Intuit, the software giant, faces a significant stock decline due to fears of AI-powered tax services challenging its TurboTax. Despite CEO Sasan Goodarzi's strong defense of their AI strategy and a major workforce reduction to focus on 'big bets,' including AI integration, the company's shares have plummeted.

IBM shares have seen a significant surge, adding billions to its market value, following a resurfaced video of Donald Trump praising CEO Arvind Krishna. This renewed attention, coupled with optimism around AI and quantum computing developments, has fueled a rally, with analysts pointing to social media buzz and momentum trading as key drivers.

Both the Sensex and Nifty declined more than 1% as investor sentiment weakened amid growing concerns over the Iran-US conflict, continued foreign institutional investor (FII) outflows and a host of other market challenges.

Australians are facing significant financial strain due to rising costs. This article offers five practical strategies to combat the expense of living, including smart grocery shopping, fuel app utilization, reviewing energy and insurance plans, reconsidering mobile providers, and embracing the "buy nothing" movement for pre-owned goods.

The All India Motor & Goods Transport Association (AIMGTA) has called on the central government to lower petrol and diesel prices. They argue that the significant drop in international crude oil prices, from $104 to $90 per barrel, should be reflected domestically. This reduction, they state, is crucial to alleviate pressure on the transport sector and curb rising inflation.

India's foreign exchange reserves rebounded by $938 million to $682.321 billion in the week ending May 28, reversing the previous week's decline. This rise was primarily driven by an increase in foreign currency assets, despite a dip in gold reserves. The overall reserves had previously fallen due to Middle East conflict-related interventions.

US stocks saw a slight dip on Wednesday. Rising oil prices and tensions with Iran impacted the market. However, Wall Street stayed close to record levels. Investors are hopeful about the Strait of Hormuz reopening. Strong corporate earnings also provided support. Macy's and GameStop reported positive results. Palo Alto Networks saw a decline despite a profit beat.

Broadcom's Q2 FY2026 earnings call saw a rocky start with a CEO gaffe, but revenue hit a record $22.2 billion, exceeding estimates. However, AI chip sales forecasts fell short of Wall Street's high expectations, leading to a significant market cap drop. Despite strong growth, investor sentiment reset due to unmet projections.

Uttar Pradesh Police's Economic Offences Wing arrested two wholesale traders in Jalaun district for allegedly embezzling and black-marketing government-supplied kerosene meant for drought relief. The accused diverted 30,650 litres of kerosene, valued at Rs 3.06 lakh, intended for drought-affected residents between 2007-08. Investigations revealed the fuel was illegally sold on the black market instead of reaching fair-price shops.

Elon Musk's fortune has surged to $970 billion, with a potential SpaceX IPO poised to make him the world's first trillionaire. His wealth, primarily from SpaceX and Tesla holdings, allows for vast hypothetical purchases, exceeding the GDP of many nations. This immense accumulation is attributed to his intense work ethic.

Fuel prices in Odisha have climbed for the fourth time in ten days, pushing diesel past Rs 100 per litre. While traders assure sufficient stocks for now, they anticipate a ripple effect on essential goods like vegetables and groceries within a fortnight due to increased transportation costs. This gradual hike is expected to eventually impact consumers.

The AI chip sector experienced a dramatic $1.3 trillion market value collapse in under 24 hours, marking the deepest one-day drop for the PHLX chip index since March 2020. This selloff was triggered by Broadcom's quarterly report, which revealed weaker-than-expected demand for its custom AI chips, fueling investor anxieties about the AI trade's detachment from reality.

Petrol Consumption Also Rose From 2.67L KL To 3.08L KL During The Month, Up 15.3%

Indian markets shrugged off rising oil prices due to US-Iran tensions, as tech giants like Nvidia propelled stocks near record highs. Strong corporate earnings, particularly from Science Applications International Corp., also bolstered investor confidence. Despite concerns about market concentration, the tech surge continues to drive Wall Street's optimism.