The average trading volumes at the Oil India counter jumped over five-fold, with a combined 13.46 million equity shares changing hands on the NSE and BSE in Wednesday's intra-day trade.
The Supertrend indicator remains in sell mode, while prices are hovering around the short-term moving average zone, suggesting the absence of a strong directional trend.
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
Possible steep hike in oil & gas prices could lead to further rise in inflation, which, in turn, could push up bond yields, and hence, slowdown in banking credit growth.
Governments around the globe coordinated a historic release of strategic reserves, while Gulf producers rerouted shipments through alternative export routes
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
Earnings are the biggest lever for Indian markets to close the performance gap with the outperforming Asian peers, said Rahul Bhuskute CIO Bharti AXA
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.
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
Gulf's flagship national oil companies have issued stark timelines. Saudi Aramco CEO Amin Nasser warned that oil market will not normalise until 2027 if Hormuz disruptions persist past mid-June 2026.
Brent futures rose $1.05, or 1.09 per cent, at $97.05 a barrel, while US West Texas Intermediate (WTI) crude rose $1.01, or 1.08 per cent, to settle at $94.77
Markets are hopeful of a positive outcome from ongoing trade negotiations between India and the US
Brent crude futures inched up 6 cents, or 0.06 per cent, to $95.04 a barrel at 0001 GMT, while US West Texas Intermediate fell 17 cents, or 0.18 per cent, to $91.99 a barrel
Against this backdrop, Bernstein has trimmed exposure to consumption-downgrading staples and autos to Underweight given inflation headwinds, limited policy support.
Speeches from US Federal Reserve officials during the week could significantly influence interest rate expectations and determine the near-term direction for bullion prices, they added
Chief economic advisor V Anantha Nageswaran on Friday said managing Macroeconomic fundamentals like the balance of payments and current account deficit has assumed a larger priority for the government right now as the West Asia conflict has triggered a massive global energy shock. Speaking at an event on securitisation, Nageswaran said the West Asia conflict has led to a "energy shock" where the prices have moved north after the supply impact due to issues in the Strait of Hormuz. "In the current context of having to deal with the energy price, energy shock, current account deficit (CAD) and the balance of payments (BoP), etc. These, therefore, have assumed a much larger priority, urgency at this point," Nageswaran said. Refraining from giving any policy prescriptions on the securitisation front, Nageswaran stressed that the financial market has to keep up with the activity in the real sector and reminded that it was the extra focus on derivative products which led to the Global ...
Prices have been volatile in recent sessions, swinging by as much as $6 for both benchmarks on conflicting signals over a possible end to the three-month US-Israeli war on Iran
Reports of a possible US-Iran framework involving a ceasefire extension and steps to reopen Hormuz triggered a sharp 7 per cent single-session drop earlier this week
WTI futures traded below $93 per barrel mid-week, near a five-week low, as markets weighed optimism over ongoing US-Iran negotiations against renewed military operations in southern Iran
Brent crude futures fell $1.42, or 1.43 per cent, to $98.16 a barrel as of 0253 GMT, while US West Texas Intermediate (WTI) crude lost $1.66, or 1.77 per cent, to $92.23 a barrel