President Trump criticized Exxon and Chevron for excessive profits from rising oil prices after the Iran conflict, urging them to lower consumer prices. Crude prices rose 20% since Feb attack, gasoline up 40%.
Crude oil prices fell sharply and global stocks rallied after Donald Trump announced he cancelled strikes on Iran and claimed peace talks would resume, a claim Tehran denied. This occurred despite rising fuel prices for UK motorists.
Indian stock market anticipates a pivotal week driven by the Reserve Bank of India's interest rate decision, ongoing US-Iran conflict impacting crude oil, and Q1 FY27 corporate earnings. Domestic macros and foreign investor activity also remain key factors.
The Indian rupee gained 0.1% against the US dollar on Thursday, opening at 96.49, despite facing pressure from rising crude oil prices. Traders expect continued strain, with the Reserve Bank of India (RBI) intervention anticipated to limit sharper losses. Geopolitical tensions are driving oil prices higher, offsetting previous RBI measures.
Average petrol prices in the United States have risen to $4 per gallon, driven by escalating tensions between the US and Iran in the Middle East. This increase reverses a period of easing costs and could have wider economic implications, impacting groceries and upcoming US midterm elections.
The Indian Rupee depreciated 39 paise against the US dollar, opening at 95.72 and falling to 95.77 due to soaring crude oil prices and escalating Middle East tensions. Concerns over global crude supply disruptions, fueled by Iran's actions in the Strait of Hormuz, dampened market sentiment.
Arvind Kejriwal criticized the Centre for high fuel prices, stating petrol should cost Rs 82 instead of Rs 102 due to falling global crude oil rates. He accused the government of enabling oil companies' 'illegitimate profit' and questioned the rationale behind high prices despite the push for E20 ethanol-blended petrol.
Renewed fighting between the US and Iran has caused crude oil prices to jump 7% and stock prices to fall significantly. The escalation threatens market volatility and could impact Federal Reserve interest rate decisions.
Renewed fighting between the US and Iran has caused crude oil prices to jump 7% and stock markets to fall. President Trump declared an end to a ceasefire, leading to US military strikes on Iranian targets. This escalates global market volatility and adds pressure on the Federal Reserve.
Indian stock market indices Nifty50 and BSE Sensex plunged around 2% on Wednesday, erasing nearly Rs 8 lakh crore in investor wealth. The crash was triggered by fresh US-Iran tensions following President Trump's declaration that the ceasefire arrangement was "over," leading to a surge in crude oil prices and a wave of risk aversion globally.
The Indian Rupee opened weaker against the US dollar on Wednesday, trading at 95.15 and falling to 95.16. This decline is attributed to rising crude oil prices and a strengthening US dollar following fresh military actions involving the US and Iran. A weak opening in domestic stock markets also contributed to the currency's dip.
Saudi Arabia dramatically cut crude oil prices by $11 a barrel for August, the steepest drop in 26 years, signaling intense competition among producers. This move, following a previous $6 cut, brings oil prices to pre-Feb 28 levels and is expected to benefit India by reducing refiner losses and government subsidy bills.
Saudi Arabia has slashed the August price of its flagship Arab Light crude for Asian customers by $11 per barrel, the largest reduction in over 20 years. This move reflects weakening demand, improved supply conditions post-Middle East tensions, and increased competition.
Dalal Street closed higher on Thursday, with Sensex and Nifty gaining nearly 1%. The rally was driven by a sharp rise in IT stocks and falling crude oil prices, supported by India-Japan strategic agreements.
Air India has reduced fuel surcharges on long-haul routes to North America, UK, Europe, and Australia due to falling crude prices. Its low-cost arm, AI Express, also restored connectivity to all West Asia destinations, despite Air India's ongoing financial challenges.
Rohit Seksaria of Sundaram Mutual sees Indian equities entering a constructive phase due to falling crude oil prices easing inflation and currency concerns. He anticipates a temporary earnings dip but expects banks and NBFCs to lead a rebound, with opportunities in data centers, hospitals, niche IT, and auto ancillaries.
Benchmark Indian equity indices, BSE Sensex and NSE Nifty, rebounded on Wednesday after two consecutive sessions of losses. The recovery was driven by positive global market trends and a decline in crude oil prices. Key companies like Eternal, Adani Enterprises, and Nestle India were among the top gainers.
Nayara Energy, India's largest private fuel retailer, has cut petrol by Rs 5/litre and diesel by Rs 3/litre nationwide. This move, driven by lower international crude oil prices due to easing Middle East tensions, marks the first price reduction by any fuel retailer in over two years. State-run companies kept prices unchanged.
Nayara Energy, India's largest private fuel retailer, reduced petrol by Rs 5/litre and diesel by Rs 3/litre nationwide. This is the first price cut in over two years, driven by lower international crude oil prices due to easing Middle East tensions.
Crude oil prices, including Brent and WTI, fell on Friday as concerns over supply disruptions in the Strait of Hormuz eased, despite earlier tensions and an unidentified projectile hitting a cargo ship. The decline follows a US-Iran peace conclusion, bringing prices near pre-war levels, while Venezuelan earthquake damage to oil infrastructure was limited.
The Indian rupee fell 30 paise to close at 94.63 against the US dollar on Monday, influenced by a strong dollar and Middle East tensions. Forex traders noted volatile trading, with inflows offset by dollar strength and peace deal uncertainty.
Indian equity indices, Sensex and Nifty, bounced back on Monday, gaining 291 points and 24,100 mark respectively. The rally was driven by falling crude oil prices, foreign fund inflows, and optimism from US-Iran diplomatic progress. Key gainers included Reliance Industries and HDFC Bank.
The Indian Rupee gained 20 paise against the US dollar in early trade on Friday, reaching 94.20. Optimism surrounding an India-US trade agreement, coupled with improved foreign inflows and lower crude oil prices, fueled the recovery from its previous all-time closing low.
The Indian Rupee strengthened significantly against the US dollar, gaining over 30 paise to reach 94.29. This recovery is attributed to falling crude oil prices and a weaker dollar index, with markets anticipating the US-Iran framework agreement.
