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Crude oil prices jump 2% on escalating US-Iran war; Brent crude above $75 per barrel
US-Iran war: Brent crude, the global benchmark, for September delivery gained 1.9% to $75.53 per barrel.
From Gift Nifty, US-Iran war to crude oil prices: 7 key things that changed for Indian stock market overnight - livemint.com
From Gift Nifty, US-Iran war to crude oil prices: 7 key things that changed for Indian stock market overnightlivemint.com
Asian shares steady, oil prices rise as US strikes Iran
South Korea's Kospi index was up 0.9%, while Japan's Nikkei index was flat but sharply off day's lows. The MSCI Asia Pacific index was steady after falling nearly 1% during open. S&P 500 futures were up0.1% while contracts for the Nasdaq 100 were up 0.3%.
Asian Markets Today: Nikkei, Kospi Decline As Middle East Tensions Escalate After Fresh US Strikes On Iran
Rising oil prices and renewed military action in the Gulf weighed on investor sentiment across the region.
US Strikes Iran After Hormuz Ship Attacks Amid Khamenei funeral, Revokes Sanction Waiver On Oil
Iranian state media reported explosions and injuries across Qeshm Island, Bandar Abbas and Sirik.
Oil Prices On July 8: Brent Crude Surges 3% To $76 As US Strikes Iran After Ship Attacks
Brent crude climbed as much as 2.8% to trade above $76 a barrel, while US benchmark West Texas Intermediate (WTI) rose above $72 a barrel.
Explained - Why Nasdaq fell over 500 points on Tuesday and underperformed the Dow
Crude oil prices jumped overnight, a first significant move on the upside since the signing of the ceasefire agreement between the US and Iran. Brent crude surged over 5% after three commercial vessels transiting the Strait of Hormuz were reportedly attacked by Iran.
Near-zero E100 demand puts brakes on OMCs' E85 rollout
Oil companies are reluctant to expand E85 fuel stations due to poor demand. Nearly 400 pilot E100 outlets saw almost no fuel offtake. Flex-fuel vehicle sales must increase before infrastructure expansion occurs. Higher ethanol blends may damage engines in older vehicles. Low price difference and energy content hinder ethanol fuel adoption.
Russian Oil Gets Cheaper For India As Discounts Cross $10 Mark: Report
India has emerged as one of Russia's biggest energy customers.
Govt Evaluates Phased Shift To Higher Ethanol Blends
The shift towards higher ethanol blending is part of the government's broader strategy to reduce dependence on imported crude oil.
Gold, silver prices today: Comex gold and silver edge lower amid Middle East tensions, firm US dollar
Precious metals declined on 7 July amid rising tensions in the Middle East and ahead of Federal Reserve meeting minutes. Gold and silver futures fell sharply, continuously influenced by international geopolitical concerns and fluctuations in the US dollar and crude oil prices.
Market Pulse: Key triggers to watch before the July 8 trading session
Indian investors will track the continuing attacks on tankers by Iranian forces, which are increasing concerns among shipowners. Oil marketing companies, including Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, may remain on investors’ radar amid developments in crude markets. Also, the government has decided to exercise the entire green shoe option in the Cochin Shipyard Offer for Sale (OFS) after strong investor response on the first day. Further, US markets are trading higher as investors rotate away from artificial intelligence-linked stocks. Oil prices remain in focus after vessel attacks in the Persian Gulf, with potential supply concerns keeping crude markets under watch.