Topic
us-iran tensions
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.
Finance Rupee Falls 11 Paise to 96.36 Against US Dollar Amid US-Iran Tensions and Rising Crude Oil Prices
The Indian rupee opened 11 paise weaker at 96.36 against the US dollar on Wednesday, pressured by rising crude oil prices and safe-haven demand amid renewed US-Iran tensions. The dollar index edged lower to 101.15, while Brent crude rose 1.18% to USD 92.08. RBI measures to attract overseas deposits have provided support, according to Anil Kumar Bhansali of Finrex Treasury Advisors LLP.
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.
Trade India raises diesel and jet fuel export taxes as US-Iran tensions tighten oil markets
India increased taxes on diesel and jet fuel exports, citing the collapse of the US-Iran interim peace deal and global fuel market tightness. The diesel levy rose to ₹15.5 a litre from ₹8.50, while gasoline taxes were cut. The fortnightly adjustment mechanism aims to balance local availability with export profitability.
Commodities Gold and Silver Prices Drop Over 1% as US-Iran Tensions and Inflation Data Weigh on Sentiment
Gold and silver prices declined over 1% on Thursday as escalating US-Iran tensions and stronger-than-expected US inflation data boosted the dollar and Treasury yields. MCX silver fell Rs 1,705 per kg, while gold dropped Rs 2,100 per 10 grams in Delhi. Investors now await Fed signals and US PPI data.