Brent Crude Oil

Here's how leading brokerages have interpreted the recent developments in West Asia and their likely impact on stock markets and crude oil prices.

Equity, by its nature, Rashesh Shah, CMD, Edelweiss Financial Services believes, is not a one- or two-year asset class, it represents ownership in businesses that compound over a decade.

ONGC and Oil India shares fell up to 4% as Brent crude dropped below $100 following a US-Iran ceasefire and easing tensions in the Strait of Hormuz.

Iran's warning over a possible Bab al-Mandeb closure has raised concerns over global trade. The strategic strait carries oil and goods between Asia, Europe and West Asia

If crude spikes to $150/bbl for a quarter, we see FY27 (GDP) growth at around 5.7 per cent, CPI inflation breaching 6 per cent and the CAD widening to around 3 per cent of GDP, Morgan Stanley said.

Beyond $90/bbl is when the decline steepens and things worsen as inflation starts eating into savings, impacting spend that gets especially bad for consumer sectors, Bernstein said in a recent note.

The West Asia conflict continues to escalate as the US and Iran exchange warnings and global oil prices surge, with Brent crude rising to $109 a barrel. Here are the top updates at 10 am (IST)

US West Texas Intermediate ​crude futures rose $11.42, or 11.41 per cent, at $111.54 per barrel, settling at their biggest absolute price rise since 2020

Indian stock markets crashed on April 2, 2026, with the Sensex falling over 1,500 points and Nifty dropping 2 per cent after US President Donald Trump's warning of intensified attacks on Iran

One of the most important factors that will determine market's trajectory in the weeks ahead, according to analysts, remains crude oil prices.

Tensions remain high in West Asia as Donald Trump threatens stronger attacks on Iran if talks fail. Here are the top updates at 10 am (IST)

Iran has approved a plan to impose tolls on ships passing through the Strait of Hormuz amid the ongoing West Asia war, raising concerns over global oil supply as Brent crude trades near $111 a barrel

Retail fuel price hike is unavoidable with crude above $110/bbl, suggest analysts at Elara Capital. At $125 crude, even after the excise cut, the retail price needs to rise by Rs 8-14/liter, they add.

The Government of India has not announced any windfall tax on domestic crude realisations; this is a key positive for ONGC and Oil India, believe analysts.

The drops in Asia follow the deep declines on Wall Street last Friday that finished off a fifth straight losing week, its longest such streak in nearly four years

A conflict that stretches through the second quarter would result in historically high real prices, analysts said

Thus far in the calendar year 2026, ONGC stock has outperformed the market by soaring 15 per cent, as against 12.8 per cent decline in the BSE Sensex.

Mohammed Imran, research analyst at Mirae Asset Sharekhan, maintains the Q2 2026 Brent target of $110/bbl and WTI at $100

The rupee strengthened after three days of losses on easing crude and dollar index, while bond yields hardened on higher-than-expected SDL auction cut-offs

Traders reportedly placed $580 million in oil bets minutes before Donald Trump's post on Iran talks, triggering sharp moves in crude and stocks and raising questions over the timing of the trades