Topic
oil prices
Commodities Shell Profits Double as Oil Prices Rise Due to Iran War
Shell reported a doubling of second-quarter profits to $9.84bn, driven by soaring oil prices following the outbreak of the US-Israel war with Iran. The conflict caused major disruption to global oil and LNG supplies through the Strait of Hormuz. Shell's first-half earnings surged 70% to $16.76bn.
Commodities Crude Oil Futures Fall Despite Intensified US-Iran Strikes in West Asia
Crude oil futures fell on Thursday despite ongoing US-Iran military strikes. October Brent dropped to $87.27, while WTI slipped to $83.72. The EIA reported a 7.2 million barrel decline in US crude inventories.
Commodities Oil Prices Jump Over 7% as Middle East Chaos Flares Up, Brent Crude Back at $90
Brent crude jumped 7.47% to $90.37/bbl and WTI rose 7.15% to $84.93/bbl after fresh US-Saudi strikes on Iran-backed groups in Iraq and Iranian attacks in the Strait of Hormuz. Industry data showed a 3.3 million barrel draw in US crude inventories, adding to bullish sentiment. Analysts expect volatile trade with Brent in the $80-$100 range.
Business What India should do to respond to emerging global challenges, high oil prices: FinMin outlines
The Finance Ministry's monthly economic review, released Wednesday, urges India to reinvent its policy approach amid rising crude oil prices and global uncertainties. It warns of risks to inflation, fiscal deficit, and current account balance, while noting the economy's resilience. Deeper reforms and faster policy execution are deemed critical to attracting investment and strengthening strategic position.
Business Wall Street declines as Federal Reserve policy review looms; oil prices surge on Iran hostilities
US stocks traded lower on Wednesday as the Federal Reserve's two-day policy meeting concluded, with markets pricing a 36% probability of a rate hike. Oil prices surged 5.6% to $86.64 a barrel after Iran launched a missile attack on US forces, heightening supply concerns.
Finance Rupee Gains for Fourth Straight Session as Dollar Weakens, Oil Prices Remain Below $90
The Indian rupee appreciated for the fourth straight session as the US dollar softened and oil prices remained below the $90 mark. The gains reflect broader currency market trends, though specific exchange rate data is not provided in the source.
Commodities Oil prices surge nearly 4% on West Asia tensions and lower US crude inventories
Oil prices surged nearly 4% on Wednesday after joint US-Saudi strikes in Iraq and interception of Iranian missiles, while US crude inventories fell by 3.3 million barrels. Brent rose to $87.39 and WTI to $82.31, with OPEC+ reportedly set to halt output increases. The geopolitical escalation dampens expectations for de-escalation in the Persian Gulf.
Commodities Crude Oil Futures Jump After US-Saudi Strikes on Iran-Backed Targets in Iraq
Crude oil futures rallied on Wednesday following joint US-Saudi military strikes against Iran-aligned targets in Iraq. Brent and WTI prices jumped over 3.5% as supply risks escalated, with the Jazan refinery shutdown and Strait of Hormuz traffic halted.
Commodities Oil Prices Fall to One-Week Low as Hopes of US-Iran Breakthrough Ease Supply Concerns
Oil prices declined to a one-week low as expectations of a diplomatic breakthrough between the United States and Iran reduced supply worries. The development highlights the sensitivity of crude markets to geopolitical shifts in the Middle East. No specific price levels or volume data were provided in the report.
Commodities Crude oil futures fall on Trump’s ‘good talks’ comment on Iran
Crude oil futures declined on Tuesday after US President Donald Trump said the US was engaged in 'good talks' with Iran. October Brent fell 1.08% to $84.94, and September WTI dropped 1.14% to $81.67. Meanwhile, the Caspian Pipeline Consortium resumed oil lifting at its Marine Terminal.
Commodities Global crude oil prices plunge around 7% after US and Iran pause military strikes over weekend
Global crude oil prices plunged around 7% on July 27, 2026, after the United States and Iran paused military strikes over the weekend. Brent crude traded 7.2% lower at $89.74 per barrel, while West Texas Intermediate fell 6.6% to $83.36 per barrel, according to News on AIR.
Commodities India's average crude oil basket price plunges to $77.6/bbl in July from $114.5 in April
India's average crude oil basket price declined to $77.6 per barrel in July (up to July 22) from $114.5 per barrel in April 2026, according to the government. The drop, driven by easing geopolitical tensions in West Asia, is expected to support India's external sector and mitigate current account deficit pressures. The RBI has projected GDP growth of 6.6% and CPI inflation of 5.1% for 2026-27.
Commodities Crude Oil Falls as US and Iran Halt Weekend Strikes, Easing Geopolitical Risk Premium
Crude oil futures fell sharply on Monday morning after the US and Iran halted strikes against each other over the weekend, with Brent dropping 4.23% and WTI falling 4.90%. The de-escalation marked the first tangible signal of reduced hostilities after 13 days of strikes, though analysts caution that recovery hinges on lasting peace and safe navigation through the Strait of Hormuz. Meanwhile, Houthi attacks on Saudi Arabia's energy facilities continued, adding another layer of supply risk.
Commodities Oil Prices Tumble 5% on US-Iran Pause, Fueling Hopes of Diplomatic Breakthrough
Oil prices fell sharply on Monday after the US and Iran paused hostilities over the weekend, sparking hopes of a diplomatic solution. Brent crude dropped 4.52% to $92.41 a barrel, while WTI fell 4.81% to $85.01. The retreat follows three weeks of gains, though shipping through the Strait of Hormuz remains subdued.
Commodities Oil prices fall as US-Iran pause eases supply fears; Brent crude slips below $93
Oil prices fell in early trading Sunday, with Brent crude dropping 4.9% to $92.02, after the United States and Iran refrained from launching military strikes for a second straight day. The decline follows a 3.9% drop on Friday. US benchmark oil also fell 5.6% to $84.34. The brief easing of Middle East tensions comes after prices surged to a two-month high of $102 per barrel last week amid concerns over shipping through the Strait of Hormuz and attacks on Saudi tankers in the Red Sea.
Finance RBI Intervention Lifts Rupee 22 Paise to 96.5 Despite Brent Crude Topping $100
The Indian rupee strengthened 22 paise to 96.5 per dollar on Friday, recovering from a weak opening, as likely Reserve Bank of India intervention countered pressure from Brent crude oil prices breaching $100 a barrel. The currency remains under pressure from FII outflows and domestic equity declines.
Commodities Brent crude hovers above $100 a barrel as tensions escalate in West Asia
Brent crude futures held above $100 a barrel as the US continued airstrikes against Iran and Houthi attacks raised risks to Saudi oil flows. The September ICE Brent contract was at $100.66, while WTI traded at $91.95. Supply disruptions through the Strait of Hormuz and the CPC terminal in Russia add to geopolitical premium.
Commodities Gold falls over 2%, silver drops nearly 4% as rising oil prices fuel inflation and rate concerns
Gold prices declined over 2% and silver fell nearly 4% as rising crude oil prices revived inflation worries, prompting expectations that central banks may maintain restrictive monetary policies. According to The Times of India, higher oil costs have reduced the appeal of non-yielding assets like precious metals amid heightened rate hike fears.
Commodities Brent crude tops $100 a barrel as West Asia conflict fuels oil supply fears
Brent crude oil briefly topped $100 per barrel for the first time since May, surging 6.2% to $99.94 after attacks on two Saudi oil tankers in the Red Sea heightened supply fears. The price had fallen below $72 just weeks ago, roughly back to pre-Iran war levels.
Commodities Brent crude nears $100 as analysts warn of inflation and current account deficit risks for India
Brent crude oil approached $97 per barrel on July 23, 2026, with analysts warning of risks for India including higher inflation and a widening current account deficit. Geopolitical tensions in West Asia and OPEC+ supply discipline are key drivers, while some forecasters see prices remaining above $100.
Finance Rupee Rises to 96.49 Against US Dollar as Rising Oil Prices Cap Gains, Traders Eye RBI Intervention
The Indian rupee opened at 96.49 against the US dollar on Thursday, a 0.1% recovery from its weakest close in over two months, but gains are limited by rising crude oil prices. Brent crude has climbed above $96 a barrel amid US-Iran tensions, prompting the Reserve Bank of India to intervene. The RBI was a net seller of $6.1 billion in the forex market in May, while its forward dollar sales hit a record $106.6 billion.
Commodities Crude oil tops $96 as Houthis target Saudi tankers in Red Sea
Brent crude futures surged above $96 per barrel on Thursday following reports that Iran-backed Houthis attacked two Saudi oil tankers in the Red Sea. US military strikes on Iranian assets and an EIA report showing a build in US crude inventories added to market dynamics.
Commodities Brent Crude Tops $96 as US-Iran Tensions and Houthi Attacks Escalate
Oil prices surged to six-week highs as the US launched new strikes on Iran and Yemen's Houthis attacked oil tankers in the Red Sea. Brent crude rose $1.93 to $96 per barrel, while WTI gained 1.7% to $88.27. Iran's Revolutionary Guards claimed control of the Strait of Hormuz and declared it closed, while the Houthis announced a naval blockade of Saudi Arabia. US crude stocks rose 2 million barrels last week, countering expectations of a draw.
Commodities Boiling point? Brent crude touches five-week high, here's what analysts expect next for oil markets
Brent crude reached a five-week high above $94 per barrel as US-Iran tensions intensified. Analysts expect prices to remain in the $90-100 range barring a major supply disruption. Key support and resistance levels are identified for traders.
Commodities Crude Oil Futures Rise as US Strikes on Iran Continue for 11th Day
Crude oil futures climbed on Wednesday as US forces continued strikes on Iran for an 11th consecutive day. September Brent reached $92.15/barrel and September WTI $85.25/barrel, supported by geopolitical tensions affecting shipping lanes. Analysts at ING Think noted that risks to Saudi exports from the Red Sea and disruptions at Russia's CPC terminal may leave Brent undervalued.
Commodities Crude Oil Futures Slide on Ceasefire Hopes Between US and Iran Amid Houthi Blockade Threat
Crude oil futures declined on Tuesday amid reports of a potential 10-day ceasefire between the US and Iran. September Brent fell 0.77% to $88.53, while WTI dropped 0.38% to $82.17. Meanwhile, Houthis in Yemen announced a naval blockade on Saudi Arabia, threatening oil flows through the Bab el-Mandeb Strait, and US forces conducted additional strikes against Iranian targets.
Commodities Oil Prices Jump 3% as US-Iran Conflict Intensifies, Brent Crude Tops $90 per Barrel
Oil prices rallied on Monday as US-Iran conflict intensified, with Brent crude topping $90 per barrel and WTI reaching $84.20. The surge follows sustained military strikes and shipping disruptions through the Strait of Hormuz, where passage slowed to just four vessels on Sunday. A Barclays analyst warned that markets remain too complacent about the impact on inventories.
Commodities Brent crude trades above $90 a barrel on escalating US-Iran hostilities
Brent crude oil futures rose above $90 per barrel on Monday as escalating hostilities between the US and Iran raised supply concerns. September Brent contracts traded at $90.27, up 2.46%, while WTI stood at $83.64. ING Think analysts warned of potential wider Persian Gulf attacks and disruption to Strait of Hormuz flows.
Business India's current account deficit likely to widen to 1.5% of GDP in FY27 as higher oil prices weigh: Report
According to a Crisil report, India's current account deficit is expected to widen to 1.5% of GDP in FY27 from 0.6% in FY26, driven by higher crude oil and commodity prices. The forecast follows official trade data showing the merchandise trade deficit widening to $30.4 billion in June. Crude oil prices are expected to average $82-87 per barrel this fiscal.
Commodities Strait of Hormuz closure: Why crude oil prices haven’t spiralled out of control amid US-Iran conflict
The closure of the Strait of Hormuz caused the biggest oil supply disruption in history, removing 13.6 million barrels per day (13% of global output). Yet crude prices only briefly touched $144/barrel before easing, far below inflation-adjusted levels of previous crises. According to the Asian Development Bank and industry experts, the market's resilience stems from non-OPEC production growth, alternative export routes, US record exports, and China's energy transition.
Finance Rupee Rises 14 Paise as Dalal Street Rally Offsets Geopolitical Headwinds
The Indian rupee strengthened 14 paise to 96.28 against the US dollar in early trade on Friday, supported by a rally in equity markets. However, gains were limited by sustained foreign fund outflows, firm crude oil prices, and escalating Middle East tensions. The dollar index edged up 0.02% to 100.78, while Brent crude rose 0.39% to $84.83 per barrel.
Commodities Crude Heads for Biggest Weekly Gain in Months Amid Intensifying Middle East Crisis
Crude oil prices surged on Friday, with Brent and WTI heading for their biggest weekly gains in three months as US military strikes on Iran intensified. The escalation, which resumed less than a month after a June 17 ceasefire agreement, has revived fears over the Strait of Hormuz and potential supply disruptions.
Crude Oil Futures Edge Lower Despite US Strikes on Iran; Supply Disruptions Loom
Crude oil futures traded marginally lower on Thursday despite US airstrikes on Iranian facilities. September Brent was at $84.70, down 0.29%, while WTI fell 0.19% to $79.45. US EIA data showed a 1.7-million-barrel draw in commercial crude inventories. Analysts from ING Think flagged risks of renewed supply disruptions amid depressed tanker traffic through the Strait of Hormuz and the impending end of SPR releases.
Commodities Oil Prices Extend Gains for Fourth Day, Hold Above $85 Amid US-Iran Escalation
Crude oil prices extended gains for a fourth consecutive session, with Brent trading at $85.48/bbl and WTI at $80.27, as US military strikes on Iran escalated Middle East tensions. Analysts warn of supply disruptions through the Strait of Hormuz and Bab el-Mandeb. Goldman Sachs projected Brent could rise above $110 if Gulf exports face delays.
Commodities Crude Oil Futures Rise as Trump Threatens Strikes on Iran's Energy Targets
Crude oil futures traded higher on Wednesday after US President Donald Trump threatened to strike energy targets in Iran. September Brent rose 0.93% to $85.52 and August WTI gained 0.66% to $79.86 on geopolitical supply disruption fears. Trump's comments follow ongoing attacks between US and Iranian forces in West Asia.
Commodities Russia, Strait of Hormuz Combine to Drive Diesel Higher After Nine-Week Decline
The benchmark diesel price rose 21.8 cents to $4.796/gallon amid escalating geopolitical risks. ULSD futures soared over 20% from a July 2 low as Russian refining capacity hit 21-year lows and Strait of Hormuz traffic slowed drastically. The spread between Brent crude and diesel widened to $1.84/gallon, one of the highest since the war began.
Commodities Crude oil futures surge after Trump reinstates naval blockade of Iranian ports
Crude oil futures rose sharply on Tuesday after US President Donald Trump reinstated a naval blockade of Iranian ports. September Brent crude climbed 1.78% to $84.78/barrel, while WTI gained 2% to $79.70. The move includes a 20% fee on cargo passing through the Strait of Hormuz, which analysts estimate could add $16/barrel in costs. US Central Command also conducted airstrikes on Iranian military targets, deploying over 50,000 troops.
Finance Rupee slips past 96 against US dollar for first time since May as oil prices soar again
The Indian rupee weakened past 96 against the US dollar for the first time since May 2026, depreciating 48 paise to 96.16 on Tuesday. Pressure came from surging crude oil prices and heightened geopolitical tensions in West Asia, which boosted demand for safe-haven assets. The move raises concerns over India's import bill and current account deficit.
Commodities Crude Oil Futures Gain on Reports of Iranian Strikes on US Military Targets in West Asia
Crude oil futures gained on Friday morning following reports of Iranian armed forces launching attacks on US military infrastructure in West Asia. At 9:36 am, September Brent oil futures were at $76.64, up 0.45%, and August WTI crude oil futures at $72.40, up 0.44%. The escalation follows recent US strikes on Iranian targets, including approximately 90 military assets on July 8 and 80 on July 7, in response to attacks on commercial shipping in the Strait of Hormuz.
Commodities Brent crude surges to $78 per barrel on fresh US strikes on Iran and West Asia tensions
Brent crude surged to $78.68 per barrel on Thursday after the US launched fresh strikes on Iran and President Trump declared the ceasefire 'over'. West Texas Intermediate also climbed. The escalation in West Asia raised fears of supply disruptions, pushing oil prices higher after after-hours gains on Wednesday.
Commodities Crude oil futures rise as US continues attacks on Iran, Strait of Hormuz tanker crossings plunge
Crude oil futures advanced on Thursday after US forces conducted a second day of strikes against Iranian military targets, escalating tensions in the Strait of Hormuz. September Brent rose 1.12% to $78.89/barrel, while August WTI gained 1.14% to $74.36. ING Think strategists noted the ceasefire appears on life support, and vessel tracking data showed Strait of Hormuz tanker crossings fell to just seven, the lowest since June 21.
Commodities Crude Chaos: Oil Near $80 a Barrel After Trump Declares US-Iran Ceasefire ‘Over’
Oil prices surged toward $80 a barrel after US President Donald Trump declared the US-Iran ceasefire 'over' and launched fresh strikes. Brent crude rose 1.31% to $79.04, extending a 5% rally. Maritime authorities raised the Strait of Hormuz threat level to 'severe' following tanker attacks, reigniting inflation fears.
Business Goldman Sachs raises India GDP growth forecast to 6.8% after US-Iran peace pact
Goldman Sachs raised India's GDP growth forecast for calendar year 2026 to 6.8% from 6.5%, and FY27 growth by 40 basis points to 6.5%, following the US-Iran peace deal. The investment bank cited lower global oil prices, eased supply chain disruptions, and stronger-than-expected first-quarter economic activity as key drivers. It also lowered inflation and current account deficit forecasts.
Business Monsoon Uncertainty Weighs on Gains from Lower Oil Prices, Impacting Rural Consumption
Oil prices have tumbled, leading some analysts to lower India's inflation forecast for the fiscal year. However, uncertainty over monsoon rainfall is nudging consumer firms to temper growth expectations, as rural consumption—which contributed nearly 60% to overall consumption growth in 2022-2023—faces headwinds from a 43% below-normal rain deficit and delayed onset.
Commodities Global Crude Oil Prices Sink to Lowest Levels in Nearly Four Months
Global crude oil prices slumped to their lowest levels in nearly four months on June 24, 2026. Brent crude fell nearly 3% to $74.80 per barrel, while West Texas Intermediate dropped over 2.8% to $71.12 per barrel, according to News on AIR.
Commodities Saudi Arabia slashes August crude prices for Asia by $11 a barrel in biggest cut in over 20 years
Saudi Arabia has slashed its official selling price for August crude oil deliveries to Asia by $11 per barrel, marking the largest cut in over two decades, according to a Times of India report.
Commodities Crude Oil Surges Over 6% as Trump Declares Iran Ceasefire 'Over'
Oil prices surged more than 6% after US President Donald Trump declared the interim ceasefire with Iran 'over' following US strikes on Iran in response to attacks on three ships in the Strait of Hormuz. Brent crude rose 6.3% to $78.80 a barrel, and US benchmark crude jumped 6.4% to $75.00. The move raises uncertainties over inflation and coincides with concerns over AI stock valuations.
Commodities Crude Oil Prices Surge 3% as US Strikes Iran Over Strait of Hormuz Attacks
Oil prices jumped nearly 3% after the United States launched military strikes against Iran in response to Iranian attacks on three commercial vessels in the Strait of Hormuz, reviving fears of supply disruptions through the critical chokepoint. Brent crude traded at $75.54 a barrel and WTI at $71.81 a barrel as the US also revoked its sanctions waiver on Iranian oil sales.
Finance Indian Rupee Strengthens 43 Paise to 94.97 on Lower Oil Prices and FII Inflows
The Indian rupee strengthened by 43 paise to 94.97 against the US dollar, recording its sharpest single-session gain in three weeks, supported by Saudi Arabia's $11/barrel cut in August crude oil prices for Asia, FII net equity purchases of Rs 243.03 crore, and improved global risk sentiment. The currency opened at 95.33 and traded in a 94.94-95.37 range before closing near 94.95. Broader market indicators showed Brent crude at $72.9/barrel and the dollar index at 100.96.
Commodities Crude Oil Futures Gain as Attacks on Ships in Strait of Hormuz Heighten Geopolitical Risk
Crude oil futures rose on Tuesday morning following reports of attacks on ships in the Strait of Hormuz. September Brent futures gained 0.64% to $72.45, while WTI rose 0.55%. The UKMTO reported a tanker hit by a projectile off Oman, and US officials said Iran fired missiles at commercial vessels.
Commodities Saudi Arabia Slashes Crude Prices by $11/Barrel, Deepest Cut in 26 Years
Saudi Arabia cut its crude oil prices by $11 per barrel for August, the deepest single-month reduction in 26 years, amid rising OPEC+ output and resumption of flows through the Strait of Hormuz. The discount on Arab Light Crude follows a $6/barrel cut for July, and brings prices back to pre-war levels. Brent crude futures fell 47 cents to $71.7 a barrel, while OPEC+ agreed to further increase output by 188,000 bpd from August.
Commodities Crude Check: Oil Prices Form a Base for a Possible Rebound
Crude oil prices stabilized last week after a sharp sell-off, with Brent crude on ICE at $72.10 per barrel and MCX crude futures at ₹6,568. The price action indicates a potential corrective rally, with resistance at $80 for Brent and ₹7,300 for MCX. Traders are advised to maintain long positions with a stop-loss at ₹6,350.
Crude Oil May Drop to $60 as Hormuz Shock Fades, Citi Forecasts
Citi analysts predict Brent crude could fall to $60 per barrel by year-end as the Hormuz Strait disruption fades and fundamentals reassert. The bank notes shipping flows normalizing, weak Chinese demand, and lower-than-expected inventory draws. Other banks like Goldman Sachs and Morgan Stanley also see oversupply risks.
Commodities India's Crude Imports Bounce Back to Pre-Conflict Levels as Refiners Diversify Sources
India's crude oil imports have rebounded to near pre-conflict levels despite Middle East disruptions, as refiners diversified away from Gulf suppliers. HSBC reports that Russian crude, trading at a discount, has become a key alternative. A temporary 'mini-glut' from reopened Hormuz shipping is expected to ease as inventories are rebuilt.
Commodities Crude oil futures edge lower as markets await clarity on US-Iran peace talks
Crude oil futures declined on Tuesday as markets awaited clarity on proposed US-Iran peace talks in Doha. September Brent fell 0.34% to $73.66, while August WTI dropped 0.48% to $70.41. The price moves come after weekend attacks between the two countries and conflicting signals on whether negotiations will occur.
Commodities Crude Oil Prices Tumble 9.9% on ICE, But Technical Support May Trigger Rebound
Brent crude oil futures on ICE fell 9.9% over the past week to $72.60 per barrel, hitting a four-month low of $71.93. The contract is approaching key support at $71, where a rising trendline converges, suggesting a possible corrective rebound towards $80. MCX crude oil futures also declined 9.4% to ₹6,577 per barrel, with support at ₹6,400.
Commodities How Venezuela’s Strongest Earthquake in a Century Could Disrupt India’s Crude Oil Imports
Venezuela was hit by its strongest earthquakes in over a century, with magnitudes 7.2 and 7.5, causing widespread damage. While oil infrastructure largely escaped major structural damage, the power grid has been disrupted, raising uncertainty over production. India, which has sharply increased crude imports from Venezuela in recent months, faces potential supply risks.
Commodities Crude Oil Down 2% as Strait of Hormuz Resumes Shipments Despite Vessel Strike Near Oman
Crude oil prices fell 2% on Friday, headed for an 8% weekly loss, as more tankers exited the Strait of Hormuz following a ceasefire deal. Saudi Aramco resumed loading at Ras Tanura after a four-month halt. Despite a vessel hit near Oman and earthquakes in Venezuela, supply concerns eased with increased flows, while demand from China remained weak.
Commodities Crude Slips Toward $70 as Tankers Return to Hormuz After US-Iran Peace Deal
Crude oil prices tumbled toward $70 per barrel as tanker movement through the Strait of Hormuz resumed after the US and Iran reached a peace deal. Brent crude fell to $72.90 and WTI to $69.61, with physical cargoes trading at discounts globally. The return of normal flows and potential increase in Iranian exports are easing supply concerns.
Commodities Crude Oil Dips Below $75/barrel as Strait of Hormuz Reopens but Full Recovery May Take Time
Crude oil prices fell below $75/barrel on Wednesday after the Strait of Hormuz reopened, but remain above pre-conflict levels. Brent traded near $73.4/barrel, while the Indian oil basket was at $74.34. S&P Global Energy and JP Morgan provide cautious outlooks, citing volatile prices and potential upward pressure from declining inventories.