Brent futures dropped $1.29, or 1.5 per cent, at $87.69 a barrel by 0100 GMT; US West Texas Intermediate (WTI) crude fell $1.30, or 1.6 per cent, to $81.97
The ministry said its fiscal consolidation path and Rs 1 trillion stabilisation fund provide room to absorb mild shocks, but sustained oil-price increases pose risks
Brent futures gained 72 cents, or 0.81%, to $89.63 a barrel by 0053 GMT, while US West Texas Intermediate (WTI) crude climbed 71 cents, or 0.85%, to $83.91
By sharply reducing oil imports, China not only shielded its own economy from a supply shock (to an extent) - its impact also helped cushion the price shock for other Asian economies, analysts said
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We hold a bullish stance on crude oil, with Brent expected to average around $80 if the war is not prolonged, but if we see Hormuz disruption until mid-September, Brent may average $90 by year-end.
The rupee gained on lower crude oil prices and RBI-linked dollar sales, but a stronger dollar ahead of the US Federal Reserve's policy decision limited the upside
Near-term oil prices are likely to remain extremely volatile. Prices could react sharply to any suggestion that Washington and Tehran are moving toward peace, although we remain doubtful.
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
Brent crude surged above $100 after Houthi attacks on Saudi tankers deepened Middle East supply disruptions, fuelling fears of a prolonged global oil shock
The legislation allows US President Donald Trump to impose tariffs of as much as 100 per cent on the top five purchasers of Russian oil and natural gas, essentially targeting China and India
Economists have sharply lowered India's FY27 current account deficit forecast as softer crude oil prices, resilient exports and remittances improve the external outlook
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
We've also seen significant sector rotation over the past few weeks, making it difficult for fund managers to stay positioned across every segment, says B. Gopkumar, MD & CEO of Axis Mutual Fund.
Crude Oil market has moved beyond a simple war-premium story. It's now balancing three forces at once: geopolitical risk around Hormuz, refinery-led product tightness and softer macro-demand impulse.
Oil prices edged higher, with Brent crude above $85 a barrel, as escalating US-Iran attacks raised concerns over disruptions to supplies through the Strait of Hormuz
