Nifty fell 0.54 per cent to 22,687.65 as Brent crude climbed above $112 a barrel, with oil-sensitive stocks dragging markets lower amid renewed tensions in West Asia.
Brent crude rose 1.2% to $110.11 a barrel and US WTI gained 1% to $98.12 after Houthi attacks in Saudi Arabia killed three people and prompted Washington to order some diplomats' families to leave
Brent crude futures rose $1.32, or 1.2%, to $110.11 per barrel by 0747 GMT while US West Texas Intermediate (WTI) crude gained $1.18, or 1.2%, to $99.00 per barrel
Brent crude futures rose to $111.05 a barrel, the highest since May, and as of 0810 GMT were trading at $110.80, up $1.25 or 1.1%
Stock market crash: The Indian benchmark indices, Sensex and Nifty, snapped their two-day gaining streak and declined 1 per cent today.
Brent crude futures fell $2.29, or 2.08%, to $107.57 a barrel by 0619 GMT after settling at its highest since May 19 on Friday
The International Energy Agency agreed to release over 20 million barrels of diesel to the market and any oil remaining from a record release of emergency reserves pledged in March to boost supply
Oil price outlook: Escalating tanker strikes, Houthi pressure on Gulf infrastructure and Iranian tactical framing around the midterm calendar keep the floor firm.
Brent crude futures rose 89 cents, or 0.8%, to $106.58 a barrel by 0030 GMT, while US West Texas Intermediate crude futures gained 80 cents, or 0.9%, to $94.94
Mohammed Imran of Mirae Asset Sharekhan expects Brent to become more volatile ahead of the US midterm election. Brent futures may test the resistance of $120/b in the near term.
The selling pressure, in fact, has intensified in recent months. After offloading equities worth ₹35,861 crore in September, FPIs sold another ₹47,417 crore through October 12.
Brent crude futures fell 61 cents, or 0.57%, to $106.04 a barrel by 0000 GMT while US West Texas Intermediate crude futures were down 47 cents, or 0.5%, at $93.27 a barrel
Models of macro management are being tested
WTI crude prices, which are unusually low versus Brent because of high US-Europe shipping costs, Goldman Sachs' analysts said, are likely to average $81 in December 2026 and $73 in 2027.
Brent crude futures fell $1.54, or 1.47%, to $103.18 a barrel by 0154 GMT while US West Texas Intermediate crude was at $90.31 a barrel, down $1.54, or 1.68%
Mahindra Manulife MF's Krishna Sangahvi says largecap valuations look attractive, but cautious domestic investors and uncertain foreign flows remain key challenges.
Crude oil futures are likely to remain volatile next week as uncertainty over US-Iran negotiations and escalating tensions in West Asia keep supply risks elevated, even as hopes of a deal to reopen the Strait of Hormuz offer scope for a correction, analysts said. Investors will track the monthly oil market reports from the Organization of the Petroleum Exporting Countries and the International Energy Agency, along with the American Petroleum Institute's weekly inventory numbers and US government data on crude inventories and imports, they added. The geopolitical situation remains fluid after US President Donald Trump said Washington was considering joining Saudi strikes against Iran-backed Houthi rebels in neighbouring Yemen, following an attack on Riyadh's international airport. "The widening conflict has heightened concerns over energy shipments through the region, including the strategic Bab el-Mandeb Strait," said Navneet Damani, Head of Research - Commodities at Motilal Oswal .
Brent crude futures fell 72 cents, or 0.7%, to $103.53 a barrel by 0220 GMT. US West Texas Intermediate (WTI) crude futures fell 52 cents, or 0.6%, to $90.97
Wall Street's main indexes fell, with the S&P 500 down about 0.5% and the Nasdaq off nearly 1.3%
Cement demand is likely to improve, but higher fuel, packaging and logistics costs could weigh on margins and delay earnings upgrades until the fourth quarter of FY27