Oil prices edged higher, with Brent crude above $85 a barrel, as escalating US-Iran attacks raised concerns over disruptions to supplies through the Strait of Hormuz
IEA chief Fatih Birol says markets are gripped by uncertainty as attacks in and around the Strait of Hormuz threaten oil, gas and fertiliser shipments
Brent crude rises to $85.28 a barrel and WTI to $80.02 as renewed US-Iran tensions raise concerns over supply disruptions in the Strait of Hormuz
Gold's near-term direction depends on whether June CPI marks the start of a durable disinflation trend or a temporary pullback driven by energy base effects.
For the second straight session, Brent closed at its highest since June 12 and West Texas Intermediate at its highest since June 15 and rose further on early Wednesday trade
June inflation rose above the RBI's 4% target, with food, oil prices and monsoon risks clouding the outlook, making a status quo on rates the likely policy choice
FPIs emerged as net buyers of Indian equities in July, for the second month this year. But higher for longer crude oil prices could dent sentiment.
Oil prices climbed to a four-week high after the US reinstated its blockade of Iranian shipping and both sides intensified attacks around the Strait of Hormuz
Already in the bear territory after receding 27% from its record high level, analysts foresee further decline in gold prices of up to 16% to $3400-3500 levels.
The price of Brent crude, the international standard, gained 3.9 per cent to $78.96 per barrel, while US benchmark crude oil added 4 per cent to $74.26 per barrel
Stocks to watch today: HCL Tech, DMart, IndiGo and oil marketing companies are among key stocks to track today amid results announcement and rising crude oil prices.
Oil prices edged lower on Friday as inflation concerns weighed on demand, but crude remained on track for strong weekly gains amid renewed US-Iran strikes and uncertainty over the Strait of Hormuz
This means that while the economy may use larger amounts of energy on an absolute basis as it grows, it is now generating more output per unit of energy consumed than before
Brent crude futures rose 78 cents, or 1 per cent to $78.8 a barrel by 0054 GMT, while US West Texas Intermediate crude futures were up 74 cents, or 1.01 per cent, at $74.26 a barrel
Renewed tanker attacks in the Strait of Hormuz have driven up war risk insurance costs, raising concerns over shipping, oil supplies, and maritime security
Russia's temporary diesel export ban has pushed global fuel prices to multi-year highs, adding fresh pressure to energy markets already disrupted by the Iran war
We can hope for peace opening the Strait of Hormuz, but must prepare for war closing it
Brent crude futures gained 28 cents, or 0.39%, to $72.29, and US WTI crude rose to $68.84 a barrel, up 29 cents, or 0.26% as of 0046 GMT, after settling down to around pre-Iran war levels on Monday
Brent crude falls below $72 a barrel, while US WTI slips to around $68.6 as recovering Strait of Hormuz exports ease supply concerns
Analysts and the government differ on fuel under-recoveries as crude prices ease, highlighting contrasting views on OMC margins and India's fuel pricing formula