Brent crude futures fell 19 cents, or 0.25%, to $75.07 a barrel as of 0055 GMT, while US West Texas Intermediate fell 13 cents, or 0.18%, to $71.79 a barrel
Key trigger: Brent Crude prices have declined to $73/barrel, to almost its lowest since start of the US Iran war on February 28, 2026.
Sensex Today | Stock Market Highlights, Wednesday: In the broader markets, the Nifty MidCap and the Nifty SmallCap settled 0.10 per cent and 0.39 per cent higher, respectively
Sensex Today | Stock Market Highlights, Tuesday: In the broader markets, the Nifty MidCap and the Nifty SmallCap settled 1.05 per cent and 0.48 per cent down, respectively
Brent to trade within $70-$76/bbl range over the next quarter, with downside risks extending toward $66-$68/bbl should Iranian supply recover faster than anticipated.
Oil prices will remain volatile, but we expect Brent to move into the $80-$90 range, says Jim Burkhard, vice-president and head of research for oil markets, energy and mobility at S&P Global Energy.
Indian refiners expect Russian crude discounts to widen as additional supplies from Iran and West Asia enter the market following the US-Iran ceasefire agreement
By 0645 GMT, Brent crude futures gained 51 cents, or 0.64 per cent, to $80.36 a barrel, and US West Texas Intermediate crude rose $1.28, or 1.7 per cent, to $77.88 a barrel
Shipping data firm Kpler estimates that daily transits may rise to around 40 vessels within the first month - less than half the pre-war average of 100, says Mohammed Imran, of Mirae Asset Sharekhan.
Sensex Today | Stock Market Highlights, Monday: In the broader markets, the Nifty MidCap and the Nifty SmallCap ended 1.29 per cent and 1.11 per cent higher, respectively
Falling crude price is a clear positive for India's automobile and tyre sectors, where raw material and logistics costs are highly sensitive to crude derivatives, say analysts at ICICI Securities.
From IPO allotment fairness and Nifty's key support levels to Zerodha reviving referrals, key market trends are shaping investor sentiment
While the global setup has turned positive, analysts suggest investors remain watchful of profit booking at higher levels after the recent volatility.
As per Fitch Ratings' estimates, Brent crude oil is likely to average $100-110/bbl in May-July, before falling to $80/bbl in August, and to about $70/bbl from September.
For now, the oil market remains at a crossroads-pulled in opposite directions by forces that are both powerful and persistent, with no clear resolution in sight
The near-term outlook for Brent crude through Q3 2026 is likely to remain range-bound in the $90-115/bbl band, with risks skewed slightly towards a higher floor price for crude oil
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
Even a successful reopening may not bring oil prices down sharply, as the scale of disruption and the time required for markets to rebalance will keep oil elevated in the range of $80-95 range.
Sensex Today | Stock Market Highlights, Wednesday: In the broader markets, the Nifty MidCap and the Nifty SmallCap ended 0.42 per cent and 0.11 per cent down, respectively
While both contracts fell during the overnight session on hopes of a peace deal, the US strikes in southern Iran and Israeli attacks on Hezbollah have boosted Brent prices