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Oil Prices Jump 5%: Brent Crude Above $78 Again After Trump Says US-Iran Ceasefire Is 'Over'
Brent crude oil prices surged 5% to $78 a barrel, meanwhile US benchmark West Texas Intermediate (WTI)prices surged 5% to $74 a barrel.
Crude Oil: The 'Risk Premium' was compressed, not extinguished
Recent pullback in crude oil prices from the channel support suggests short-covering, but the prevailing structure continues to reflect lower highs and lower lows, keeping the broader downtrend intact
Prolonged US-Iran tensions may push India's crude basket above $75/bbl, raise inflation risks: Experts
Market experts warn a prolonged US-Iran standoff could increase India's crude oil import costs. Diversified sourcing is expected to cushion supply disruptions, reducing vulnerability to shocks. However, prolonged conflict may push India's crude basket beyond $75 per barrel. Higher crude prices could create near-term macroeconomic pressures and inflation risks.
Stock Market Crash: Sensex sinks 1,600 points, Nifty slips below 24K mark; 5 key factors behind today’s market mayhem
Sensex Nifty Crash: Indian stock markets experienced a significant downturn on Wednesday afternoon. Rising crude oil prices and geopolitical tensions battered investor sentiment across exchanges. US President Donald Trump's remarks on Iran further fueled fears of escalation in the Middle East. This led to a sharp decline in the Sensex and Nifty indices. Broader markets and sectoral indices also traded deep in the red.
Benchmarks trade in negative terrain; media shares tumble
Going ahead, investors will closely monitor stock-specific developments, the progress of the southwest monsoon, movements in crude oil, gold and silver prices, and the inflation trajectory for further cues on market direction.
Why Hormuz windfall may prove short-lived for oil refiners
Global refining margins have hit record highs, greatly benefiting producers. Yet, while fuel prices remain elevated due to tight inventories, this lucrative period for refiners may soon come to an end as crude prices are anticipated to rise.
Indian refiner MRPL cancels Middle East vessel charter: Report
India's Mangalore Refinery and Petrochemicals has cancelled a vessel charter for crude oil. The company cited technical reasons for not proceeding with the Aframax tanker Jasmin Joy. It remains unclear if tensions in the Strait of Hormuz influenced this decision. Maritime authorities had raised the threat risk for vessels transiting the waterway. MRPL is currently searching for a replacement vessel for its operations.
Sensex drops 375 pts; oil & gas stocks remain under pressure
At 11:30 IST, the barometer index, the S&P BSE Sensex, tanked 374.82 points or 0.48% to 77,805.80. The Nifty 50 index lost 119.25 points or 0.49% to 24,279.15.
AI stocks tumble as oil surge and bond yields drag Wall Street lower
Chipmakers led a tech selloff while rising oil prices and Treasury yields weighed on markets. Samsung slumped despite strong profit guidance, Rivian sank on a share sale and global stocks retreated.
DGCA May data, soaring oil prices drag InterGlobe Aviation shares 3%
The sentiment was further hit by a rise in crude oil prices after the US military launched airstrikes against Iran and reimposed crude sales sanctions
Dollar index adds strength as renewed tensions between US and Iran drive inflation concerns
Dollar index is adding strength on Wednesday morning in Asia following renewed tensions between US and Iran. Reported US air strikes on Iran following recent attacks on ships transiting the Strait of Hormuz drove oil prices higher, fueling inflation concerns and reinforcing expectations of interest rate hikes has kept dollar index upbeat. Meanwhile, investors also wait for the minutes of the Federal Reserves June meeting for additional insight into the policy outlook. The dollar index that measures the greenback against a basket of currencies is quoting at 100.88, up marginally on the day. The yield on the US 10-year Treasury note remained near a one-month high of around 4.55% on Wednesday after climbing sharply in the previous session.
IndiGo, SpiceJet Shares Decline As Rising Crude Prices Fueled By US-Iran Tensions Weigh On Airlines
Higher oil prices after renewed US-Iran tensions pressured airline stocks even as India's domestic passenger traffic continued to grow in May.