Brent Crude

The global surplus has increased from 0.5 bmpd to around 1.5 mbpd in the last six months

WTI plunged 2.5 per cent over the past five trading sessions to $58.05/bbl, shedding 5.5 per cent in the last month and more than 20 per cent since mid-June highs near $73/bbl

Global crude oil supplies are poised for a deepening glut, with prices likely to decline toward $50 per barrel by mid-2026 amid sluggish demand growth and robust production

Indian Rupee today: The domestic currency closed 15 paise lower at 87.97 against the greenback on Friday

Opec+ is unwinding cuts, restoring 2.72 million barrels per day by November, with Iraq adding 500 thousand barrels per day via Kurdish pipelines, worsening a 0.5 million barrels per day surplus

Indian Rupee today: The domestic currency closed two paise lower at 88.79 against the greenback on Wednesday

Adding more pressure on the oil market, the Kremlin on Thursday confirmed Vladimir Putin would meet Donald Trump in the coming days, raising expectations of a diplomatic end to the war in Ukraine

Oil prices hit five-week lows as markets await US sanctions decision on Russia. Tariffs on India, crude inventory draw, and Opec+ supply plans also influence Brent and WTI price movements

OPEC's demand forecasts are at the higher end of the industry range, as the agency expects a slower energy transition than some other forecasters

Crude oil markets are pricing in a fair amount of uncertainty at the current levels, Das said. That's why oil had dropped below $60 for a time-before the West Asia tensions pushed it back up

Even with oil prices ruling at $110 and $108/bbl in FY13 and FY14 respectively, the Nifty 50 managed to post a gain of 7.3 per cent and 18 per cent in each of these two fiscal years

CRISIL Ratings in its latest report said that the ongoing conflict in the Middle East so far did not have any significant impact on global trade of Indian corporates. However, if the uncertainties aggravate, some sectors might feel the impact, the report said. The uncertainties have impacted global crude markets, with the Brent crude hovering in the range of USD73 to USD76 per barrel over the past one week. During April and May, the Brent crude was hovering around USD 65 per barrel. Any escalation of the tensions could result in further spike in oil prices, the report said, adding that this will benefit upstream oil companies and margins for the downstream refiners will get squeezed, according to the report. It said India's direct trade with Israel and Iran, the two countries engaged in the conflict, is minuscule at less than one per cent of total trade. While India's major export to Iran is basmati rice, trade with Israel is more diversified, the report added. Any escalation of

A potential shutdown of the Strait of Hormuz amid rising Gulf tensions could trigger a sharp but brief surge in crude prices, according to Citigroup analysts tracking energy markets

Indian Rupee today: The domestic currency depreciated 6 paise to open at 86.53 against the dollar, the lowest level since April 9 this year

Oil prices have declined 17 per cent for the year-to-date with April marking 18 per cent fall, the biggest monthly drop in prices since November 2021

In the previous session, the Sensex dropped 728.69 points (0.93 per cent) to close at 77,288.50, while the Nifty50 ended 181.8 points (0.77 per cent) lower at 23,486.85

The oil fundamentals have swiftly moved into bullish zone amid fear of sanction on Iran and Venezuela getting stricter from the Whitehouse, Crude oil and gasoline prices on Monday

Trump will include a process for Canada and Mexico to seek specific exemptions for certain imports, adding that new tariffs would become effective on March 1

At 6:35 AM, GIFT Nifty futures indicated a gap-up opening for the markets, trading 150 points higher at 23,416

Thursday's session had already painted a grim picture, with the Sensex plunging 528.28 points (0.68 per cent) to close at 77,620.21. The Nifty shed 162.45 points (0.69 per cent) to settle at 23,526.50