Oil prices edged higher, with Brent crude above $85 a barrel, as escalating US-Iran attacks raised concerns over disruptions to supplies through the Strait of Hormuz
Nomura said that elevated crude oil prices are negative for OMCs' marketing margins and CGDs' input costs, while positive for upstream realisations in the near term.
The exit of UAE has certainly loosened the cartels grip over the pricing power and the Cartels kingpin Saudi Arabia, and the UAE, Kuwait, Iraq, and Qatar are fighting an open war to control the market
Oil prices climbed to a four-week high after the US reinstated its blockade of Iranian shipping and both sides intensified attacks around the Strait of Hormuz
Oil prices climbed more than 3 per cent after fresh US-Iran military strikes renewed concerns over energy shipments through the Strait of Hormuz and regional supply risks
Brent crude futures rose 78 cents, or 1 per cent to $78.8 a barrel by 0054 GMT, while US West Texas Intermediate crude futures were up 74 cents, or 1.01 per cent, at $74.26 a barrel
The rupee recorded its sharpest one-day fall in a month on rising crude oil prices and renewed West Asia tensions, while the benchmark 10-year government bond yield climbed
Brent crude futures gained $1.38, or 1.9%, to $75.54 a barrel, and US West Texas Intermediate crude climbed to $71.81 a barrel, up $1.37, or 1.9% at 0128 GMT
Brent crude futures gained 28 cents, or 0.39%, to $72.29, and US WTI crude rose to $68.84 a barrel, up 29 cents, or 0.26% as of 0046 GMT, after settling down to around pre-Iran war levels on Monday
Sensex Today | Stock Market Highlights, Monday: In the broader markets, the Nifty MidCap and the Nifty SmallCap indices ended 0.45 per cent and 0.75 per cent higher, respectively
India's dependence on oil imports and its climate commitments require that petroleum consumption is replaced, to the extent possible, by electricity, preferably renewable
The Sensex and Nifty gained 0.6 per cent on Wednesday as easing crude oil prices, gains in financials and auto stocks, and strong domestic institutional buying lifted market sentiment
Brent futures rose 50 cents or 0.69% to $73.45 a barrel at 1208 GMT, while US West Texas Intermediate (WTI) crude climbed 63 cents, or 0.91%, to $70.13 a barrel
For India, BofA Securities has raised the 2026 GDP (gross domestic product) forecast to 7 per cent from the 6.2 per cent forecasted in April. For 2027, it now pegs the GDP growth at 7 per cent.
Sensex Today | Stock Market Highlights, Monday: In the broader markets, the Nifty MidCap and the Nifty SmallCap settled 0.37 per cent and 0.62 per cent down, respectively
Brent and WTI fall about 3 per cent as supply concerns ease with higher tanker movements through the Strait of Hormuz despite fresh security risks in the region
