Three weeks into the most consequential energy shock since the 1973 Arab oil embargo, the full weight of what the Middle East war means for Asia is only beginning to crystallise
The US-Israel war with Iran entered day 18 as Donald Trump said the conflict may end soon; the Strait of Hormuz remains tense, while oil prices rose with Brent crude trading above $102 a barrel
Thus far in March, the stock price of HPCL has slipped 22 per cent, while BPCL and IOCL were down 18 per cent and 14 per cent, respectively amid rising crude oil prices.
Even as a crude-laden Indian tanker sailed safely from UAE's Fujairah and Tehran claimed Hormuz is closed for its 'enemies', the war continues to rattle many sectors
Sensex Today | Stock Market Highlights, Thursday: Broader markets fell in line with the benchmark indices. The Nifty MidCap and the SmallCap ended 0.37 per cent and 0.69 per cent down, respectively
Auto stock: Individually, among others, Hero MotoCorp, TVS Motor Company, Samvardhana Motherson International, Sona BLW Precision Forgings, Uno Minda, and Ashok Leyland climbed over 3 per cent
Sensex Today | Stock Market Highlights, Monday: The Nifty MidCap and the Nifty SmallCap indices ended 1.97 per cent and 2.22 per cent down, respectively.
Brent crude oil has topped the $100-mark which may trigger a 10 per cent fall in Nifty, warns ICICI Securities. Rising oil prices could widen India's trade deficit and push inflation higher
Some barrels from US are fetching their biggest premium since 2020, and value of major Norwegian grade, which moves almost lockstep with Brent, has gained more than $5 on the benchmark this week
A supply disruption even at the mid-range of volumes at risk-7 to 8 million b/d of crude and products-would be higher than the volume that was initially at risk when Russia invaded Ukraine
During the October 1973 Yom Kippur War, Arab OPEC members, led by Saudi Arabia, implemented an oil embargo against the US and other nations that supported Israel that led to oil rising 300 per cent.
US and Israeli strikes that killed Ayatollah Ali Khamenei have deepened open conflict with Iran and rattled West Asia, disrupting sea routes via Strait of Hormuz, fuelling oil price spike
Mirae Asset Sharekhan maintains a constructive short- to medium-term outlook for crude oil, supported by elevated geopolitical risks and Opec+'s decision to hold production at December levels.
Crude oil outlook: Geopolitical tensions have driven crude oil prices to a three-month high, with WTI trading just under $63 and Brent approaching the $67 resistance level
Oil India hit a 52-week high at ₹492, as the stock rallied 10 per cent, while ONGC surged 7 per cent to ₹266.05 on the BSE in intra-day trade on Wednesday.
While Brent should retain a geopolitical risk premium, it is similarly forecasted to retreat toward $56-$57/b as supply growth from non-OPEC+ producers outweighs softening demand
Crude oil prices are holding firm this week as tensions between Iran and the US temporarily ease after Donald Trump indicated he does not intend to launch military action.
The current upward trajectory is primarily driven by a toxic mix of heightened geopolitical risks in the Middle East, infrastructure disruptions in the Caspian region, and significant capital inflows
