- Tag results for crude oil
The government would release the Consumer Price Index (CPI) for October and the industrial production data for September later in the day.
BSE had marked its entry into the commodity derivatives segment with gold and silver contracts on October 1, 2018.
In July, approximately 1 million barrels of BPRL’s share of equity crude oil from the Lower Zakum concession was lifted by Bharat Oman Refineries Ltd.
The 30-share Sensex climbed 444.39 points, or 1.31 per cent, to 34,291.62 with all the sectoral indices led by realty and oil&gas trading in the positive zone, by rising up to 2.11 per cent.
A combination of crude oil climbing to four-year high and rupee dipping to its lowest level against US dollar has sent retail petrol, diesel and LPG rates to record high.
Inventory data from the U.S. Energy Department's Energy Information Administration is due at 1430 GMT on Wednesday.
U.S. oil production has increased steadily over the last five years, reaching a record high of 11.2 million barrels per day in the week to Oct. 5, EIA data showed.
BPCL is looking to sell up to 33,000 tonnes of LDO for October 27-30 loading from Mumbai through a tender closing on October 18.
Meanwhile, South Korea in September stopped importing Iranian oil for the first time in years.
The Centre has maintained that prices of fuel have reached record highs due to an increase in global crude oil prices and depreciation of the Indian rupee.
Reliance Industries Ltd, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemicals Ltd, sought an additional 1 million barrels each in November.
An industry source who also tracks exports said October shipments were so far below 1 million bpd.
The ministry did not provide a detailed breakdown of quota recipients, but they should include mostly independent refiners, which make up around two-thirds of the total.
India is the second largest buyer of Iranian crude after China, accounting for about 30 per cent of total crude exports from the Persian Gulf nation during April-August 2018.
The United States from Nov. 4 will target Iran's oil exports with sanctions, and Washington is putting pressure on governments and companies around the world to fall in line and cut their purchases.