Oil Price Rise

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

But despite the US hit, the Iran-Israel war is still going on, and Iran has threatened to attack US military installations in the Gulf

Oil price outlook: Crude oil prices are likely to remain supported by geopolitical uncertainty and tightening inventories in the near term

Sensex Today | Stock Market Close, Friday, June 13, 2025: The Nifty Midcap100 and Nifty Smallcap100 index settled in red, down by 0.24 per cent and 0.43 per cent, respectively

Oil price outlook: Given the low level of oil inventories, there could be a sustained geopolitical premium in crude price until the conflict is resolved in the short-term

At 7:06 AM, GIFT Nifty futures also indicated a weak start for the bourses, trading 66 points lower at 25,410 levels.

Brent crude, WTI oil trading strategy today, Aug 27: We expect oil prices to face immediate resistance of $80 and the rally would find it difficult to sustain above it

Both benchmarks fell less than 1% last week versus the previous week. A stronger US dollar, which rose about 1% over the last week, has kept a lid on prices

At its intra-day peak, the US West Texas Intermediate crude futures contract traded more than $1 above previous close

A cruise missile launched from Houthi-controlled Yemen struck a commercial chemical tanker, causing a fire and damage but no casualties in the latest such attack to heighten safety risks for tankers

West Texas Intermediate rose above $86 a barrel as a war-risk premium returned to markets. The combined death toll topped 1,100 as fighting headed into a third day

Union Minister Hardeep Singh Puri has long called for OPEC and its allies led by Russia, known as OPEC+, to consider how their policies affect oil-consuming countries

The company's prospects remain strong over FY24E / FY25E driven by steady increase in oil & gas output, and greater monetisation opportunities in gas via the imminent NE grid commissioning

Russia said exports would resume once it had stabilised its domestic market, but did not give a precise timeline

Saudi Arabia and Russia have announced a fresh extension to their voluntary supply cuts, amounting to a combined 1.3 million barrel per day (bpd) cut for another three months till December

Closing Bell on August 7: Among sectors, Nifty Healthcare, Nifty Pharma, and Nifty IT indices emerged as the top leaders, gaining up to 2 per cent

Brent crude oil for May was up 24 cents, 0.3%, to 83.69 a barrel at 0214 GMT. The April contract expired on Tuesday up $1.44, or 1.8%, at $83.89.

Brent crude futures had risen 12 cents to $86.24 per barrel by 0119 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 30 cents to $80.45

Brent crude futures rose 72 cents, or 0.9%, to $79.76 a barrel by 0103 GMT while U.S. West Texas Intermediate crude was at $74.89 a barrel, up 60 cents, or 0.8%

At the same time, in a positive sign for fuel demand in the world's top oil importer, more Chinese cities eased COVID-19 curbs over the weekend