The key shift in October is that the oil price rally has changed character from reflecting genuine physical tightness to what could happen next, explains Kaynat Chainwala of Kotak Neo.
The White House has been leaning on regional channels to cool prices, ahead of the Mid-Term election on November 3, says Mohammed Imran of Mirae Asset Sharekhan.
The US 10-year Treasury yield has climbed to 5.32 per cent from 4.15 per cent at the end of 2025, a rise of 117 basis points (bps) so far in 2026. Brent crude oil, meanwhile, is testing $100/bbl mark.
Nifty gains 133 points as Brent crude eases towards $101-102 a barrel, while oversold conditions and softer US rate expectations support a relief rally
Kaynat Chainwala of Kotak Securities reckons that the MCX Crude Oil is showing a cautious-to-bearish setup on the 4-hour chart after facing resistance near ₹9,280-9,300 levels.
The global cost of carrying crude oil which used to be around 1-2 per cent of the total contract value has now faring 20-25 per cent to Asian refiners.
Brent crude futures fell 93 cents, or 0.86%, to $107.82 a barrel at 0028 GMT, while US West Texas Intermediate futures were down 97 cents, or 0.92%, at $104.86 a barrel
Brent at $108 a barrel is certainly negative for India, but its ultimate damage depends on whether the spike is brief or sustained and whether it disrupts physical supply.
Brent crude futures rose 81 cents, or 0.8%, to $108.44 a barrel by 0345 GMT while US West Texas Intermediate crude rose 69 cents, or 0.7%, to $103.17 a barrel
Oil at $100: OMC stocks have already been punished significantly, and therefore investors are not reacting in panic after such a major fall, believe analysts.
ICICI Securities sees the momentum of Oil India's share price sustaining as the delivery of expansion plans in both upstream and downstream segments comes to fruition over FY27-29E.
Brent Crude oil last traded above the $100 mark on May 25, 2026, before Wednesday; since then select stocks from the Nifty Oil & Gas index soared up to 82%, while two declined over 10%, shows data.
Brent crude futures were up $2.01, or 2.05%, at $99.93 a barrel by 0802 GMT, after earlier touching $100.19, while US West Texas Intermediate crude was up $1.49, or 1.60%, at $94.52 a barrel
Crude oil shipments from West Asia producers are at about 11 million barrels per day (bpd) now, from 18 million bpd before the Iran war began seven months ago
Sensex Today | Stock Market Highlights,Thursday: In the broader markets, the Nifty MidCap and the Nifty SmallCap ended 0.1 per cent and 0.13 per cent down, respectively
Rabobank expects Brent to remain volatile in the months ahead, with $70-$75/bbl acting as the lower-end support zone and $95-$100 forming the upper end of the range.
Brent futures rose 1 cent, or 0.1%, to $87.08 a barrel by 0247 GMT, while US West Texas Intermediate (WTI) crude futures rose 6 cents to $81.31 a barrel
