When oil prices drop, upstream companies face reduced revenue, which can lead to cost-cutting measures, reduced profits, and in some cases, financial losses
The weakness in the oil prices came after US President Donald Trump imposed 'reciprocal' tariffs' on trading partners. He also announced a 10 per cent tariff on all countries
Crude oil prices fell below $70 per barrel over US President Donald Trump's new tariffs, raising concerns over a global trade war that could weigh on oil demand
In the previous session, Sensex gained 592.93 points (0.78 per cent) to close at 76,617.44, while Nifty50 rose 166.65 points (0.72 per cent) to settle at 23,332.35
Trump on Sunday said that he was very angry with Russian President Vladimir Putin and would impose secondary tariffs of 25 per cent to 50 per cent on Russian oil buyers
China and India are major buyers of Russian crude and their acquiescence would be crucial to making any secondary sanctions package seriously hurt exports from the world's second largest oil exporter
Sensex Today | Stock Market Highlights on Friday, March 28, 2025: The Nifty Midcap100 and Nifty Smallcap100 indices closed with losses of 0.32 per cent and 0.15 per cent, respectively
FY25 wrap: At 6:34 AM, GIFT Nifty Futures were down 28 points at 23,749, suggesting a negative start
In the previous session, the Sensex dropped 728.69 points (0.93 per cent) to close at 77,288.50, while the Nifty50 ended 181.8 points (0.77 per cent) lower at 23,486.85
In the previous session, Sensex ended at 78,017.19, up 32.81 points or 0.04 per cent. Nifty50 closed at 23,668.65, up 10.30 points or 0.04 per cent
The oil fundamentals have swiftly moved into bullish zone amid fear of sanction on Iran and Venezuela getting stricter from the Whitehouse, Crude oil and gasoline prices on Monday
Opec+ is a group that includes Opec and allied producers led by Russia, and pumps over 40 per cent of the world's oil. The group is scheduled to raise output by 135,000 barrels per day in May
The US on Thursday issued new Iran-related sanctions, targeting one individual and several entities including a Chinese "teapot" oil refinery for purchasing and processing Iranian crude oil
Oil prices have recorded seven straight weekly declines since Donald Trump took office on January 20
Russian President Vladimir Putin agreed on Tuesday to stop attacking Ukrainian energy facilities but stopped short of endorsing a full 30-day ceasefire that Trump hoped for
Oil prices have gained support from Trump's vow to continue the US assault on Yemen's Houthis unless they end their attacks on ships in the Red Sea
At 7:00 AM, GIFT Nifty Futures were up 126 points at 22,570, suggesting a gap-up start.
Oil is trading near $71 a barrel in London after sinking to the lowest since 2021 last week, following Opec+'s decision to gradually restart halted production from April
US President Donald Trump's economic policies so far have centered on a blitz of tariff announcements. Some have taken effect and others have been delayed or are set to kick in later
Oil prices, however, pared back some gains after Trump said he had instructed his commerce secretary to add an additional 25 per cent tariff on all steel and aluminum imports from Canada