Crude Oil Price

Brent crude surged nearly 7% as renewed West Asia strikes, Strait of Hormuz tensions and falling US crude inventories stoked fears of supply disruptions

Crude is not trading under normal conditions. Until there is a durable resolution to the conflict, geopolitical risk will continue to dominate price discovery.

Brent futures increased by $3.15, or 3.8%, to $87.24 a barrel by 0520 GMT, while ‌US West Texas Intermediate (WTI) crude rose $2.73, or 3.4%, to $81.99 a barrel

ONGC approved a $500 million guarantee for MRPL's crude imports from Aramco as India plans to source up to 25% of its 2027 LPG imports from the US

Brent crude futures ​were down $0.54, or 0.6%, at $87.82 by 0046 GMT

Brokerages expect the paints sector to witness double-digit value growth, driven by sector-wide price hikes, channel stocking ahead of those hikes, and demand pick-up due to a delayed monsoon.

For investors and corporates, the prudent strategy is to treat oil not as a one-directional price trade but as a geopolitical volatility asset

Brent futures advanced 37 cents, or 0.37 per cent, to $101.06 a barrel at 0330 GMT, ‌having settled up 7 per cent above $100 in the previous session for the first time since May

With three simultaneous chokepoints under stress and the Yanbu bypass route now threatened, a Brent move above $100 looks increasingly plausible

To mitigate the impact of higher aviation turbine fuel (ATF), IndiGo has raised airfares, but analysts believe it will not be enough to stem the Q1 profit fall.

Brent crude futures rose $1, or 1.1%, to $92.01 a barrel at 0330 GMT while US West ‌Texas Intermediate crude climbed 82 cents, or 1.0%, to $85.16

Higher crude prices, a weaker rupee, elevated insurance costs and delayed fuel price hikes are expected to weigh on the June-quarter earnings of state-run oil marketing companies

U.S. forces bombed targets in southern Iran overnight after President Donald Trump said that Tehran would pay dearly for the deaths of American soldiers. Iran, meanwhile, struck U.S. sites in Bahrain

Brent is likely to remain supported while Hormuz traffic remains impaired, Red Sea threats persist, and Russian refining capacity faces recurring attacks

At present, Goldman sees Brent at $80 a barrel in the fourth quarter, and $75 next year, predicated on a de-escalation of tensions in the West Asia

India's crude oil import bill climbed to $14.7 billion in June as elevated global crude prices amid supply disruptions outweighed a decline in import volumes

Brent crude futures climbed $2.09, or 2.37%, to $90.19 ​by 0241 GMT, touching the highest since June 11, extending gains after rising 15.9% last ‌week, its biggest weekly gain since April

The rupee closed at 96.28 per dollar on Friday, down ​about 1% on the week, its steepest drop since May, the month in which the currency hit its all time-low of ‌96.96

Gold's near-term direction depends on whether June CPI marks the start of a durable disinflation trend or a temporary pullback driven by energy base effects.

Nomura said that elevated crude oil prices are negative for OMCs' marketing margins and CGDs' input costs, while positive for upstream realisations in the near term.