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Global Markets Reel as US-Iran Tensions Escalate, Crude Oil Prices Jump - Rediff
Global Markets Reel as US-Iran Tensions Escalate, Crude Oil Prices JumpRediff
Trump may say US-Iran deal is dead, but talks are likely to resume: Eurasia Group
Eurasia Group's Pramit Pal Chaudhuri says Qatar is likely to revive US-Iran talks despite President Donald Trump's remarks, while ample global oil supplies should keep any rise in crude prices limited.
ONGC Emerges Top Performer In Nifty 50 Pack, Defies Stock Market Crash
Shares of the state-run oil & gas explorer traded higher despite the stock market crash amid renewed US-Iran tensions that led to a spike in global crude oil rates by upto 5%.
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.
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.
IOC, BPCL, HPCL Shares Drop 4% As Crude Oil Price Climbs 3% To $76 Per Barrel As US Strikes Iran
OMC stocks traded lower on Wednesday amid a spike in global crude oil prices.
Indian Rupee loses momentum as international oil prices and dollar firms up
The Indian rupee lost momentum in opening trades on Wednesday as international oil prices and dollar firmed up following renewed tensions between US and Iran. Reported US air strikes on Iran drove oil prices higher, fueling inflation concerns and reinforcing expectations of interest rate hikes that kept dollar index upbeat. Meanwhile, investors also wait for the minutes of the Federal Reserves June meeting for additional insight into the policy outlook. INR opened at Rs 95.15 per dollar and hit a low of 95.19 so far during the day. Local equities are also seen in negative tracking global peers on concerns that the AI-fueled rally in chipmakers may be losing momentum. The Nifty 50 has fallen below 24,250 while the BSE Sensex has tumbled over 550 points, trading around the 77,60077,800 range. Yesterday, rupee appreciated 48 paise to close at 94.95 against the US dollar, on improved global risk sentiments as higher traffic flows through the Strait of Hormuz reduced supply uncertainties.
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.
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.
INR seen supported by improving global risk sentiments
The Indian rupee appreciated 48 paise to close at 94.95 (provisional) against the US dollar on Tuesday, on improved global risk sentiments as higher traffic flows through the Strait of Hormuz reduced supply uncertainties. Market sentiment was also buoyed after Saudi Arabia slashed August crude oil prices for Asia by USD 11 per barrel. Moreover, softness in Brent oil prices is alaos expected to ease inflationary pressures for India, the world's third-largest oil importer. However, Indian shares ended slightly lower on Tuesday, with benchmark indexes Sensex and Nifty snapping a four-day winning streak. The Indian benchmark equity indices snapped their four-day winning streak, ending marginally lower due to late-session profit booking and weak Asian cues. The NSE Nifty 50 declined by 31.65 points (0.13%) to close at 24,398.70, while the BSE Sensex dropped 104.35 points (0.13%) to settle at 78,180.72.
Gold could benefit from US rate cuts, while oil prices may fall to $60-$65: Ajay Kedia
Gold prices could stay on an upward path as hopes of US interest rate cuts support demand, while crude oil may become cheaper if global supply continues to outpace demand, according to commodity market expert Ajay Kedia.
Crude oil outlook: Price war, global market share in focus
The Middle East is now entering a different kind of conflict-one driven not by military confrontation, but by the battle for market share in global oil markets.