Oil Prices

Expectations that an agreement between the US and Iran may help reopen the strait sent oil prices tumbling

About 7 million barrels of oil a day are leaving the Persian Gulf with U.S. support, Energy Secretary Chris Wright said

Benchmark indices posted their strongest single-day gains in over two months as easing geopolitical tensions and lower oil prices boosted investor sentiment

Seeking to shore up the rupee ‌and interest in bonds, India last week announced ​tax cuts for overseas bond investors ​and a host of measures aimed at boosting inflows and improving market access

Asian shares climbed sharply on Friday, tracking big Wall Street gains, and oil prices slipped after US President Donald Trump claimed there was a breakthrough in talks to end the Iran war. US futures edged higher. South Korea's Kospi jumped 7.8 per cent to 8,370.82, narrowing losses from earlier this month from sell-offs of shares related to artificial intelligence. The Kospi has roughly doubled over the past six months, with a record closing high of 8.801.49 on June 2. Samsung Electronics, South Korea's most valuable company, advanced 11.2 per cent. Computer chipmaker SK Hynix rose 7.2 per cent. Tokyo's Nikkei's 225 gained 3.5 per cent to 66,442.95, also led by gains for technology stocks. SoftBank Group, a multinational investment holding company with a strong AI focus, was up 2 per cent. Chip equipment maker Tokyo Electron jumped 10.3 per cent. Hong Kong's Hang Seng gained 1.8 per cent to 24,689.32 and the Shanghai Composite index rose 1.6 per cent to 4,050.51. In Australia,

Rystad Energy has warned that renewed hostilities between the US and Iran could drive crude prices sharply higher as supply disruptions deepen across the Gulf region

Brent futures rose $2.30, or 2.47 per cent, to $95.40 a barrel, while US ‌West Texas Intermediate (WTI) crude climbed $2.60, or 2.89 per cent, to $92.63

Oil prices climbed about 1 per cent in early trade, moving away from a seven-week low touched in the previous session in the wake of the fresh US attacks

The currency recovered from recent losses and bond yields softened as lower crude prices and expectations of fresh foreign inflows improved market sentiment

The rupee gained 0.4% against the dollar as lower crude prices and RBI measures to boost foreign-currency inflows eased concerns over India's external balances

Brent crude futures rose $3.20 or 3.39 per cent to $96.24 a barrel while US crude futures were up $2.87 or 3.17 per cent at $93.41 per barrel as of 0333 GMT

Emkay Global has raised FY27 Brent crude oil price forecast to $90 per barrel citing West Asia tensions and inventory depletion. It has cut India's GDP growth outlook to 6.3 per cent

Brent ​futures settled up $1.81, or 1.89 per cent, at $97.81 a barrel, while US West Texas Intermediate crude ​climbed $2.26, or 2.41 per cent, to $96.02

India is bearing a high cost to insulate motorists, kitchens and flyers from large-scale disruptions in fuel supply

High oil prices, a weakening rupee and global capital shifts demand bold policymaking to protect growth and build resilience against external shocks

US crude futures rose $2.37 or 2.71 per cent to $89.73 a barrel as of 0028 GMT

Indian stock markets fell in May 2026 amid rising crude oil prices, FII selling, US-Iran tensions and weak rupee concerns. Analysts explain what triggered the decline and what investors should do now

The EU is weighing a freeze on its Russian oil price cap as the West Asia conflict drives crude prices sharply higher ahead of a July review

Brent crude futures rose $1.90, or 2.02 per cent, to $96.19 a barrel by 0015 GMT, while the more active August contract gained $1.64 or 1.78 per cent, to $93.89

It also took a little steam out of the tech-driven bull run in stock markets, with Japan's Nikkei easing 0.2 per cent, while South ‌Korean shares went flat