Oil Price

The rupee appreciated by 6 paise to 93.27 against the US dollar in early trade on Thursday, driven by retreating crude oil prices and a weakening American currency, amid hopes of a truce in West Asia. According to forex analysts, crude oil prices hovering below the USD 95-a-barrel level sent positive cues to investors in domestic equities, even though the outflow of foreign capital and demands for dollars from importers resisted a sharp recovery in the rupee. At the interbank foreign exchange market, the rupee opened at 93.29 and gained further, trading at 93.27 against the greenback in early deals, up 6 paise from its previous closing level. On Wednesday, the rupee gained 2 paise to settle at 93.33 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was lower by 0.12 per cent at 97.72. Brent crude, the global oil benchmark, was trading marginally up by 0.02 per cent at USD 94.95 per barrel in futures trade.

Japan's benchmark Nikkei 225 lost 1.0 per cent in morning trading to 56,357.40; South Korea's Kospi dipped 1.1 per cent to 5,795.15

Both benchmark prices fell below $100 per barrel in the previous trading session, with WTI recording its biggest decline since April 2020 on expectations the ceasefire ending the fight

Adding to supply concerns, Russia on Monday said Ukrainian ‌drones attacked ​the Caspian Pipeline ​Consortium's terminal on the Black Sea, which handles 1.5 per cent of global oil supply

State oil producer Saudi Aramco will increase flagship Arab Light crude prices for May sales to a premium of $19.50 over regional benchmarks for refiners in Asia

President Donald Trump has not got the quick, decisive victory he wanted. The Iranian government has not imploded following the killing of its Supreme Leader and around 40 senior leaders

Oil dropped sharply from the previous sessions, when Brent touched a six-month high and ​WTI was hovering near its highest since late September on mounting tensions between the United States and Iran

The recent surge in oil prices to a 4.25-month high, with Brent briefly touching $70.50, is largely driven by a shift in US policy

Crude oil outlook: Geopolitical tensions have driven crude oil prices to a three-month high, with WTI trading just under $63 and Brent approaching the $67 resistance level

Global oil prices have shown remarkable resilience amid softer economic data from two major consumers: the US and China

Short-term weakness masks the supply crunch building later in the decade as demand stays firm and forward prices mislead again

The decline reflects a US-led trade war, exacerbating oversupply amid Opec+'s 2.72 mb/d restoration and a 0.5 mb/d surplus

India mainly buys palm oil from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine

This week, Jamnagar was the backdrop for a grittier story: Its oil - some of which is imported from Russia - has become a sticking point in US-Indian relations

Brent fell 4.4 per cent over the week, while WTI finished 5.1 per cent lower than last Friday's close

Sensex Today | Stock Market close, Thursday, June 12, 2025: The Nifty Midcap100 and Nifty Smallcap100 index settled in red, down by 1.73 per cent and 1.90 per cent, respectively

Saudi Arabia's state-owned oil giant Aramco posted first-quarter profits of $26 billion on Sunday, down 4.6% from the prior year. Aramco, formally known as the Saudi Arabian Oil Co, had revenues of $108.1 billion over the quarter, the company reported in a filing on Riyadh's Tadawul stock exchange. The company saw $107.2 billion in revenues and profits of $27.2 billion the same quarter last year. Aramco's stock traded over $6 a share Thursday, down from a high of around $8 last year. It has dropped over the past year as oil prices have dipped, and in recent months, as the OPEC+ oil cartel announced restoring production more rapidly and as uncertainty driven by US tariffs has rippled through Middle Eastern markets. Benchmark Brent crude traded Friday at over $63 a barrel, down from highs of over $80 in the last year.

Brent crude futures rose $1.06, or 1.64%, to $65.73 a barrel by 12:18 p.m. EDT (1618 GMT) while US West Texas Intermediate crude rose $1.02, or 1.66%, to $62.35

Oil prices have recorded seven straight weekly declines since Donald Trump took office on January 20

Trump will include a process for Canada and Mexico to seek specific exemptions for certain imports, adding that new tariffs would become effective on March 1