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Geopolitics keeping crude prices higher than fundamentals: Energy expert
Energy expert Narendra Taneja estimates Brent crude would trade near $58 per barrel without geopolitical risks, adding that markets expect limited escalation and no major disruption to global oil supply routes.
US In Negotiations Over Venezuelan Oil Sales To India, Says Envoy Sergio Gor
Speaking about ongoing negotiations between New Delhi and Washington, Gor reiterated that India has agreed to diversify its energy sourcing. He added that Washington's position is rooted in its broader objective of ending the Russia-Ukraine War.
India's oil import shift signals structural energy security pivot: GlobalData
With oil accounting for roughly a quarter of India's primary energy consumption and import dependence at about 87 per cent, the country is prioritising compliance resilience, supply diversification and stronger US energy linkages as part of a more strategic energy security doctrine, the firm said.
India’s Saudi oil buy to hit six-year high as Washington curbs Russia route
India is poised to significantly boost crude oil imports from Saudi Arabia this month, reaching levels not seen in over six years. This shift comes amid mounting US pressure on India to curb its purchases of Russian oil. While Russia may still remain the top supplier, the gap is narrowing considerably, signaling a strategic realignment in India's energy sourcing.
India's oil purchases ensure global energy security: Russia claims India-US understanding on crude import volumes
India's oil purchases from Russia are continuing. The Russian foreign ministry stated these imports ensure global energy security. India's decisions are based on national interests and commercial feasibility. Reports suggest India will maintain minimum Russian crude oil imports. This approach aligns with the US view on maintaining global energy stability. Moscow has no information about India halting these purchases.
Live: Brent Hits $95 After US-Iran Escalation | Gold Slides | Nifty Set for Cautious Open| Opening Bell
Wall Street heads into the opening bell under pressure after a sharp selloff on Wednesday, with all three major U.S. indexes falling more than 1%. Technology and semiconductor stocks remained weak, while escalating tensions in the Middle East added another layer of uncertainty for investors. The Dow Jones Industrial Average tumbled 953 points (-1.87%) to 49,918.78, the S&P 500 dropped 119.66 points (-1.62%) to 7,266.99, and the Nasdaq Composite slid 509.32 points (-1.98%) to 25,169.50. Investor sentiment remains cautious as markets assess the implications of fresh U.S. strikes on Iran and Iran's announcement of the closure of the Strait of Hormuz. The developments have pushed oil prices sharply higher, raising concerns that elevated energy costs could fuel inflation and keep interest rates higher for longer. The U.S. dollar traded cautiously as investors balanced geopolitical risks against the Federal Reserve's rate outlook. Meanwhile, gold extended its decline, hitting a more than six-month low as rising oil prices and inflation fears dampened expectations for near-term monetary easing. Markets are expected to remain highly sensitive to geopolitical headlines, energy price movements, and interest-rate expectations as trading gets underway.
Taking Stock: Sensex, Nifty end flat as late selling erases gains; metals lead losses
Sectorally, FMCG and private banking stocks outperformed, whereas all other major indices ended in the red, with media, realty, energy, metal, oil & gas, and PSU bank indices falling 1-2%.
DLF, Lodha Developers fall up to 5% as real estate stocks slide; Nifty Realty down 3% amid US-Iran tension
The selling in real estate stocks came as global crude oil prices and energy markets turned volatile following the US-Iran conflict, raising concerns about inflation and household spending in oil-importing economies such as India.
Aegis Vopak, Gujarat Pipavav shares fall up to 7% as shipping, logistics stocks slide on global supply disruptions
The weakness in shipping and logistics stocks today comes amid rising uncertainty in global trade and energy markets after the conflict in the Middle East disrupted tanker movements through the Strait of Hormuz.
Taking Stock: Sensex, Nifty slip in volatile trade after RBI policy; banking stocks outperform
Among sectors, Media index gained 3.5%, while PSU Banks, Realty, Consumer Durables, and Healthcare rose 0.5% each. In contrast, Energy, IT, Metal, Oil & Gas, and Telecom indices declined between 0.5% and 1.5%.
Middle East war impact: Petronet, GAIL decline up to 5% as Qatar Energy halts production at a key LNG facility
India imports about two-thirds of its liquefied petroleum gas (LPG) requirement, largely from the West Asia.
Stocks to Watch Today: InterGlobe Aviation, Concord Biotech, NMDC, Lumax Auto Tech, Olectra Greentech, Cyient. Lupin, PB Fintech in focus on 01 June
Stocks to Watch, 1 Jun: InterGlobe Aviation, Gujarat Gas, Concord Biotech, Indian Renewable Energy Development Agency, NMDC, Glenmark Pharma, Olectra Greentech, Lumax Auto Technologies, Inox Wind, PNC Infratech, and Cyient will be in focus on June 1.