The US and China agreed to slash steep tariffs for at least 90 days, sending Wall Street stocks, the US dollar and crude prices sharply higher
Oil prices have declined 17 per cent for the year-to-date with April marking 18 per cent fall, the biggest monthly drop in prices since November 2021
Crude import bill increased by 2.7% in FY25 to $137 billion
Crude prices have had the most volatile week in four years as the prices tumbled over 20 per cent in 4 trading sessions amidst the trade war turmoil
Oil prices: The 90-day relief on reciprocal tariffs could see crude oil prices edging a bit higher towards $65. However, overall, we expect prices to trade range bound between $65-$58
Imports from Russia fell by nearly a fifth despite remaining largest source of crude
Historically, commodity and crude oil markets have exhibited a high positive correlation with equity valuations and company profits
Technically, HPCL, BPCL stock seem to be favourably placed on the charts with key support at ₹ 324 and ₹ 255, respectively. IOC stock chart however flags a caution sign.
Congress MP Manish Tewari slams Centre over high fuel prices despite crude oil plunge; questions if dynamic pricing is only a one-way street as excise duty is hiked
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