Crude Oil Price Spike

Gold and silver are expected to face fresh headwinds next week as surging crude oil prices revive inflation concerns, while the US Federal Reserve's policy decision could determine whether bullion rates stabilise or extend their downward trend, analysts said. The precious metals, already battered by elevated bond yields and a stronger dollar, will look to the Federal Reserve's October 27-28 meeting and its chair's commentary for signals on whether interest rates could stay higher for longer. The focus will also be on policy decisions from the European Central Bank and the Bank of Japan, along with US durable goods orders, consumer confidence, Personal Consumption Expenditures inflation and third-quarter GDP data. Eurozone inflation readings, developments around the US mid-term elections, Russia-Ukraine peace talks and the West Asia conflict will also remain on the radar, they added. "The near-term outlook remains cautious, with gold likely to remain under pressure until there is ..

Mirae Asset Sharekhan believes that the crude oil market balance is likely to remain in deficit through 2026.

Mirae Asset Sharekhan said that in the absence of any resolution between the US and Iran, each passing week would see floor prices increasing for global oil prices.

Iran warned that preventing its oil exports could affect the wider region as tensions with the US raised fresh concerns over energy supplies

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

Countries across Asia are imposing fuel curbs, remote work and price caps as oil supply disruptions from the West Asia conflict trigger price volatility and threaten energy security

Building economic and military strength at home and securing trade deals abroad are vital

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.

At 6:38 AM, GIFT Nifty Futures were trading 114 points lower at 24,871, indicating a potential gap-down opening for Indian markets.

At 6:40 AM, GIFT Nifty futures were trading 89 points higher at 25,262 levels, suggesting a robust opening for the markets.

Both oil benchmarks broke a three-session declining streak on Tuesday, and tensions in the Middle East continued to stoke supply concerns in Wednesday's trading session

After witnessing sustained moderation, cost push pressures faced by firms, the RBI said, are showing upward bias

India raised its windfall tax on petroleum crude to 3,200 rupees/ton from 1,700 rupees from Saturday while keeping the windfall tax on diesel and aviation turbine fuel at zero

Petrol and diesel prices are unlikely to be increased despite firming raw material costs because of upcoming general elections next year, Moody's Investors Service said. Three state-owned fuel retailers -- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 18 months in a row. This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in first half of 2022-23 fiscal year before easing oil prices propelled them to profitability. International oil prices have firmed up since August, leading to margins of three retailers turning negative again. "High crude oil prices will weaken the profitability of the three state-owned oil marketing companies in India -- IOC, BPCL and HPCL," Moody's said in a report. "The three companies will have limited flexibility to pass on higher raw mate

Brent crude oil prices have slipped nearly 15 per cent in the last few weeks, from a peak of around $98 a barrel to a little over $83 a barrel now despite OPEC+ cutting supply

A sustained rise in crude oil prices led to inflation. Should Indians resign to the fact that food prices and retail inflation will continue to stay high? Or, will rain gods provide some relief?

March inflation has surged to 6.95% in India. The government, however, is keen to share some burden if oil prices remain above $ 110 per barrel mark. But is there a relief in the offing?

March inflation has surged to 6.95% in India. The government, however, is keen to share some burden if oil prices remain above $ 110 per barrel mark. But is there a relief in the offing?

Brent crude rose to as much as USD 103.78 a barrel, the highest since August 14, 2014, and was at USD 103.40 at 1500 hrs, up USD 6.71, or 6.93 per cent

Oil prices climbed towards their highest levels in more than seven years on Monday on fears that a possible invasion of Ukraine by Russia could trigger sanctions (on the latter) from US and Europe