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IndiGo shares tumble 8% on crude spike, but Kotak upgrades stock to Buy
InterGlobe Aviation shares plunged amid soaring oil prices, with Brent crude exceeding $116 a barrel due to supply disruptions. Despite the market turmoil, Kotak Institutional Equities upgraded IndiGo to Buy, arguing that investors should focus on the escalating losses of competitors rather than oil price volatility.
IndiGo shares drop 8% due to rising oil, but Kotak sees 25% upside
Currently, 27 analysts track InterGlobe Aviation. Of these, 22 have a 'Buy' rating, three recommend 'Hold', while two have a 'Sell' rating.
Saudi Aramco shares surge most since April 2023
Saudi Aramco shares saw a significant jump as the Iran conflict intensified. This ongoing situation is causing oil supply disruptions. Global oil prices are expected to rise further. United Arab Emirates and Kuwait are reducing production. Vital shipping routes are facing near closure. Aramco is rerouting shipments to the Red Sea.
Global oil markets on edge as West Asia unrest triggers new energy shockwave
Crude oil prices have surged to near one-year highs as escalating conflict in West Asia threatens key supply routes, particularly the Strait of Hormuz. Rising geopolitical risks, refinery disruptions and tanker delays are pushing prices higher, raising inflation concerns and creating economic vulnerabilities for major Asian importers, including India, China, Japan and South Korea.
Oil and gas prices rapidly rise as Iran war shows no signs of letting up
Oil prices have surged after the US–Israel attacks on Iran escalated into a wider Middle East war, disrupting energy supplies and shipping in the region. Tankers carrying about 20 million barrels of oil a day are stranded in the Persian Gulf due to safety risks around the Strait of Hormuz, while damage to oil and gas facilities has further tightened supply.
Avoid chasing metal rally; focus on domestic sectors: Jyotivardhan Jaipuria
Jyotivardhan Jaipuria, Founder & MD of Valentis Advisors, says market corrections during geopolitical conflicts historically present buying opportunities, though investors should stagger investments due to oil and gas risks. He remains positive on banks, select capital goods and pharmaceuticals, while continuing to hold metals but avoiding fresh buying at current levels. Export-oriented sectors like chemicals may face near-term pressure from higher logistics and raw material costs.
War reaches India Inc as fire reported at JSW Infra oil storage terminal in Fujairah
A fire broke out at JSW Infrastructure’s Fujairah oil storage terminal after an Iranian drone was intercepted, marking the first direct impact of the US-Israel-Iran conflict on an Indian company.
Emergency Conflict Surcharge ups shipping costs for traders
Shipping costs are increasing as carriers implement an Emergency Conflict Surcharge. This charge applies to cargo passing through the Strait of Hormuz and the wider Middle East. One major shipping company is adding between $2,000 and $4,000 per container. More operators are expected to follow suit. This impacts India's imports of crude oil and fertilizers. Traders anticipate further cost hikes.
Cooking oil prices spike in wholesale market
Cooking oil prices have increased by up to 5 percent. This rise is linked to higher crude oil prices and increased demand for biodiesel. Dry fruit prices, including dates, almonds, and pistachios, have also climbed. Disruptions in shipping routes from Iran, Afghanistan, and the UAE are affecting availability.
India's Edible Oil, Fertiliser Imports At Risk From US-Iran Conflict, Warns Industry
Rising crude oil prices could compound the pressure, given the linkage between energy costs, logistics and global biofuel markets.
India unlikely to see petrol, diesel price hike despite global oil prices spiking to $80
Global oil prices have jumped significantly following attacks and retaliatory strikes in the Middle East. However, Indian consumers are unlikely to see a hike in petrol and diesel prices. Fuel companies have built up profits and can absorb the current price rise. The government is committed to shielding citizens from sharp increases, especially with upcoming elections.
Iran conflict disrupts global shipping as tankers are stranded, damaged
War risk insurance for ships in the Gulf is being cancelled. The Iran conflict has disrupted shipping. Several tankers are damaged. Two seafarers have died. Around 150 ships are stranded near the Strait of Hormuz. Oil and gas prices have jumped. Shipping costs are set to rise further.