Crude Oil Price

In the short run, gold prices may extend their decline to test support around $3,750.

On Dalal Street, shares of oil marketing companies fell over 2 per cent, with Bharat Petroleum Corporation leading the fall.

Brent futures were little changed, down 1 cent at $95.41 a barrel at ‌0242 GMT while West Texas Intermediate (WTI) declined by 20 cents, or 0.25%, to $88.52 a barrel

Brent futures lost $1.14, ​or 1.2%, to $91.62 a barrel by 0141 GMT while US West Texas Intermediate (WTI) ‌crude futures fell $1.04, or 1.2%, to $85.49

Brent futures climbed 71 cents, or 0.78%, to $92.20 a ‌barrel by 0119 GMT while US West Texas Intermediate (WTI) crude rose 49 cents, or 0.57%, to $86.53

Democrats' gains in the US midterm polls have raised hopes of easing tensions with Iran and lower crude prices, potentially benefiting India, though uncertainty over sanctions and tariffs persists

A decline in oil could also influence the ​interest rate outlook amid easing inflation fears.

Brent crude falls 1.7% to $90.99 a barrel and WTI drops 1.8% as Trump's remarks ease concerns over prolonged supply disruptions in the Middle East

Brent was down 64 cents, or 0.64%, to $97.67 a ‌barrel by 1134 GMT while West Texas Intermediate (WTI) fell 35 cents, or 0.40%, to $90.51 a barrel

Brent crude surged 60.4% in Samvat 2082 amid the US-Iran conflict, while gold and silver fell in dollar terms after retreating from record highs, though rupee depreciation supported domestic returns.

Brent slips below $94, offering respite to fuel retailers amid unchanged pump prices

On Dalal Street, shares of oil marketing companies gained nearly 7 per cent, with Hindustan Petroleum Corporation leading the gains.

Brent futures fell 97 cents, or 1.03% at $93.65 a barrel as of 0211 GMT, while US ‌West Texas Intermediate crude futures were down $1.14, or 1.29%, to $86.98

The upcoming Samvat will remain as challenging for the markets as Samvat 2082 unless crude prices cool off and bond yields ease, analysts caution.

Brent crude plunged 10 per cent to a two-month low as investors bet that Democratic gains in the US midterm elections could accelerate efforts to end the Iran war and ease oil supply pressures

For equity markets, the political uncertainty comes at a time when US stocks are trading with considerable momentum, but financial conditions have tightened and energy prices remain elevated.

The short-term momentum for IndiGo has shifted back into a constructive territory, with the share price reclaiming the key moving averages on the daily chart, says Mayank Jain of PhonePe Invest.

Brent futures fell 26 cents, or 0.25%, ‌to $103.34 a barrel by 0157 GMT while US West Texas Intermediate crude futures fell 53 cents, or 0.55%, to $95.56

Analysts cautioned against interpreting the recent rally as a trend reversal, calling it a rebound instead.

Mohammed Imran of Mirae Asset Sharekhan said that oil market is entering a highly sensitive phase as geopolitical risks are weighed against the possibility of a breakthrough in the US-Iran crisis.