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IndiGo, HPCL, other oil sensitive stocks plunge up to 5% as US strikes on Iran lift crude prices
Oil-sensitive Indian stocks tumbled significantly after US airstrikes on Iran. Crude oil prices climbed as sanctions on Iranian sales were reinstated. These events reignited concerns over Middle East stability and potential supply disruptions. Shipping through the Strait of Hormuz remains vulnerable, impacting global energy supply routes. Analysts expect oil inventories to stay under pressure until Gulf supplies resume.
India plans to add strategic fuel reserves after Iran war shock
India is bolstering its energy security by planning strategic reserves of crude oil, LPG, and LNG to cover up to a month's demand, aiming to prevent supply disruptions like those seen during the Persian Gulf crisis. This ambitious move follows a review of existing, limited stockpiles and includes expanding underground crude storage and addressing the challenges of storing gas.
Oil finds its way: Supertankers return to Persian Gulf
Supertankers are once again navigating the Strait of Hormuz, a crucial oil route, following a period of disruption due to recent Iran conflict. Shipping data indicates a significant increase in commodity vessel traffic, including oil tankers, signalling renewed confidence among shipowners. This return of large carriers, with a combined capacity of millions of barrels, is vital for global energy markets as hostilities ease ahead of peace talks.
INR loses momentum in opening trades as geopolitical uncertainty continues to weigh
The Indian rupee lost momentum against the American currency in early trade on Tuesday, as month-end demand for dollars from importers and corporates added pressure on the domestic unit. INR opened at Rs 94.60 per dollar and slipped to a low of 95.55 before recovering back to 94.63 so far during the day. Losses for the rupee were partly cushioned by relatively stable crude oil prices globally. However, concerns about potential supply disruptions in the Gulf and continued uncertainty around the Strait of Hormuz weighed on investor sentiments. Meanwhile, the Indian stock market opened higher this morning, with the BSE Sensex rising around 100 points to hover near the 76,825 mark and the Nifty 50 crossing the 24,030 level, which could lend some support to the local currency.
Morgan Stanley Warns of Global Oil Glut, Cuts Outlook on Hormuz
Morgan Stanley said it counted 35 oil and gas tankers exiting the Persian Gulf through the strait on Thursday - the first time the level returned to the 30-to-40 range typical before the conflict started in February.
INR rebounds on the back of a steep fall in global crude oil prices
The Indian rupee is witnessing a pullback from sharp decline registered this week in opening trades on Thursday as oil prices are receding to near pre war levels and by taking some positive cues from local equities. INR opened at Rs 94.30 and hit a high of 94.25 far during the day. Yesterday, rupee appreciated by 11 paise to settle at 94.65 against the US dollar on Wednesday on the back of a steep fall in global crude oil prices. Positive sentiments in the domestic equity markets and FII inflows further supported the local unit. Indian shares rose sharply on Wednesday amid easing geopolitical tensions and growing optimism around a potential U.S.-India bilateral trade agreement. Global oil prices fell to their lowest level in four months amid indications that more tankers stranded in the Gulf since the start of the Iran war were beginning to move through the Strait of Hormuz. However, dollar strength overseas on expectation of a near term rate hike is likely to cap any sharp gains in .
Eleven India-bound vessels have crossed Strait of Hormuz since signing of Iran-US MoU: MEA
Eleven India-bound vessels have successfully navigated the Strait of Hormuz since the US-Iran agreement on June 17, according to MEA spokesperson Randhir Jaiswal. Ten Indian-flagged ships remain in the Persian Gulf, with two more entering the region. This crucial waterway, vital for global oil transit, has recently faced disruptions, raising concerns about energy supplies and market stability.
Sensex Today | Nifty 50 | Stock Market Live Updates: Sensex zooms over 850 pts, Nifty above 23,850; realt... - The Economic Times
Sensex Today | Nifty 50 | Stock Market Live Updates: Sensex zooms over 850 pts, Nifty above 23,850; realt...The Economic TimesIndian shares join global rally on Gulf peace dealReutersSensex Today | Stock Market Live: Sensex up 860 pts, Nifty above 23,850; MTAR Tech, HDFC Bank, IFCI most activeMoneycontrol.comIndian stocks, rupee rally as crude oil prices drop on West Asia peace deal announcementThe Indian ExpressStock Market Live June 15: Sensex rises 900 points, Nifty tops 23,900; rupee gains on Iran-US deal optimismBusinessLineStock Market LIVE: Sensex off 400 pts from day's high; Nifty below 23,950; Ashoka Buildcon jumps 14%Business StandardSensex jumps 1,200 points: Why is stock market rising today?India TodayFrom Gift Nifty, US-Iran peace deal to crude oil prices: 10 key things that changed for Indian stock market over weekendMintSensex Today Rallies 1,695 Points | Nifty Above 23,600 | 4 Reasons Why Indian Share Markets Are RisingEquitymaster
Gulf Oil Lubricants India launches new B2B brand campaign
Gulf Oil Lubricants India announced the launch of its new B2B brand campaign, Dream Beyond. Do Beyond, aimed at strengthening relationship with stakeholders across the industrial, infrastructure, and OEM segments of its business. The campaign is a celebration of the commitment and partnerships that have long defined Gulf's approach to supporting its customers and showcases how successful collaborations act as powerful enablers of growth for India's manufacturing and infrastructure sectors. It reinforces Gulf's philosophy of consistently going the extra mile, beyond the call of duty and standing shoulder to shoulder to help customers achieve their ambitious goals.
Indian stocks, rupee rally as crude oil prices drop on West Asia peace deal announcement - The Indian Express
Indian stocks, rupee rally as crude oil prices drop on West Asia peace deal announcementThe Indian ExpressSensex Today | Stock Market Live: Sensex off day's high, still up over 850 points, Nifty at 23,900; auto, realty stocks lead rallyMoneycontrol.comIndian shares join global rally on Gulf peace dealReuters
Oil prices could reach $150 if war with Iran heats up again: Rystad Energy
Rystad Energy has warned that renewed hostilities between the US and Iran could drive crude prices sharply higher as supply disruptions deepen across the Gulf region
Brazil ready to ramp up crude supplies to India as Iran war disrupts gulf flows
Brazil is ready to increase oil supplies to India. This comes as India seeks to diversify its crude sources due to shipping issues. Brazil's oil exports to India have already doubled. India is also considering investments in Brazil's offshore oil blocks. Brazil wants Indian investment in its refining sector in return for more crude.