Brent Crude Oil

Equities close in the red but post best monthly gains since Dec 2023

The closure of Strait of Hormuz (SoH), analysts said, is the primary reason for this as oil supplies from this region remain curtailed.

Brent near $114 signals tight supply as inventories plunge. Backwardation, outages, and demand risks amid Iran war may reset crude's floor to $75-80, says Anindya Banerjee of Kotak Securities

Prolonged Strait of Hormuz disruption may keep oil prices higher for longer, says Mohammed Imran of Mirae Asset Sharekhan. He forecasts Brent at $90 in Q4-CY26; risks skew to $120 on supply shock

The crude oil market remains on a knife-edge. Brent's surge above $105 reflects genuine supply risks from Hormuz disruptions.

Emkay Global has cut ratings on OMC stocks as rising crude and windfall tax may hit margins. The brokerage sees up to 60% decline in FY27 earnings for HPCL, BPCL, IOCL

Iran, according to Nomura's estimates, has been the biggest beneficiary since the war broke out in terms oil revenues that rose 36 per cent y-o-y in March 2026 to $5.7 billion

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.