Brent crude briefly surged to $120 a barrel amid supply disruptions in West Asia. Analysts warn that the Iran war could reshape oil price trajectories and pose fresh risks to India's energy security
Sensex Today | Stock Market Highlights, Tuesday: The Nifty MidCap and the Nifty SmallCap indices were trading 1.62 per cent and 2.12 per cent higher, respectively.
Leading market experts decode Monday's stock market crash, crude oil's sharp spike and the investment strategy that one can adopt in this backdrop.
If global crude averages $110-115 per barrel in FY27, India's net oil imports could rise by $56-64 billion annually, worsening the current account deficit and fuelling inflation
On March 9, the combined market cap of all BSE-listed companies had fallen by ₹12.78 trillion, sliding to ₹436.89 trillion from the previous session's close of ₹449.68 trillion
Some barrels from US are fetching their biggest premium since 2020, and value of major Norwegian grade, which moves almost lockstep with Brent, has gained more than $5 on the benchmark this week
The Strait of Hormuz is currently closed to shipping, choking off 20 per cent of global oil and gas supply
The rupee slid to a new low of 92.30 per dollar as tensions in West Asia drove crude higher, before recovering after RBI sold dollars and bought bonds to curb volatility
Hormuz blockade, surging oil prices may weigh on Indian markets
Brent rally amid Strait of Hormuz tensions may lift edible oil prices in India, even without supply disruptions
On the upside, the 25,350-25,500 band now acts as a key resistance area for the Nifty, according to Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth tech firm
On the flip side, a deal between the US and Iran coupled with the excess global supply/capacity could see limit the upside after a volatile phase, analysts said.
In the past one month, ONGC has outperformed the market by surging 16 per cent, as against 0.87 per cent rise in the Nifty 50.
The prospects for OIL and ONGC may improve - with volume growth, stronger gas realisations and delta from refining/downstream subsidiaries likely aiding consolidated earnings momentum, say analysts.
Since oil and gas prices did not join other commodities in their run up in the last few months, analysts believe they are likely to remain sideways at best, unless geopolitical events trigger a rally
In the past one month, the BSE Oil & Gas index has outperformed the market by gaining 2.2 per cent, as against 2.2 per cent decline in the BSE Sensex.
Analysts at Mirae Asset Sharekhan expects WTI Crude oil futures to trade within a broader $59-$66 per barrel range in the coming weeks.
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
Share price of Oil India hit an eight-month high of ₹467.30, gaining 4 per cent on the BSE in Wednesday's intra-day deals.
Despite multiple flashpoints during the year, oil prices struggled to sustain rallies, highlighting the market's growing sensitivity to excess supply