The Indian rupee hit a more than one-week high against the U.S. currency, as the dollar index fell further from a two-decade high scaled earlier this week.
The government of Ecuador and indigenous leaders signed a deal to declare a temporary development moratorium on 15 oil blocks and suspend new mining contracts until a law about prior community consultations is in place.
India's second-biggest private refiner Nayara Energy, part-owned by Russian oil major Rosneft, has appointed Prasad K. Panicker as chairman, replacing Tony Fountain, the company said in a statement.
Iran brought under control a fire at its Shadegan oilfield which was caused by an apparent act of sabotage, a local oil company official told state television.
India and other members of the Shanghai Cooperation Organisation (SCO) will discuss energy security at the regional security bloc's meeting in Uzbekistan, India's foreign secretary Vinay Kwatra said.
Oil prices fell about 1% to a near two-week low in volatile trade after the U.S. Federal Reserve delivered another hefty rate hike to quell inflation that could reduce economic activity and demand for oil.
A planned Western price cap on Russian oil is already making a difference, U.S. Treasury Secretary Janet Yellen said, noting that Russia was now offering China and India "enormous discounts" while looking for other outlets for its oil.
Oil prices rose on expectations that OPEC+ will discuss output cuts at a meeting on Sept. 5, though concern over China's COVID-19 curbs and weakness in the global economy loomed over the market.
