New Delhi, March 13 (IANS) Global equity markets have not fully priced in the economic fallout of the ongoing war in the Middle East, Christopher Wood, global head of equity strategy at Jefferies, said in his weekly note to investors.Wood said markets have shown surprising resilience considering that it has been nearly two weeks since the U.S.‑Israel strikes on Iran.“The explanation for the lack of a more dramatic sell‑off in stocks is markets’ continuing assumption that Donald Trump wil…
Latest West Texas Intermediate News & Updates
New Delhi, March 13 (IANS) Gold and silver prices opened flat but dipped marginally on Friday, amid profit‑taking capped after recent record highs and strengthening of US dollar.MCX gold April futures lost 0.14 per cent to Rs 1,60,046 per 10 grams around 11.10 am on an intraday basis. Meanwhile, MCX silver May futures declined 0.19 per cent to Rs 2,67,448 per kg.However, the decline was capped by safe‑haven demand amid the ongoing US‑Iran war, and high crude prices kept underlying support …
New Delhi, March 13 (IANS) Global oil prices cooled down marginally on Friday after the US announced a 30-day waiver, allowing all countries to purchase Russian oil.Brent crude was trading at $99.99 per barrel, down 0.47 per cent, while West Texas Intermediate (WTI) dropped 0.67 per cent to $95.09 per barrel.US Secretary of Treasury, Scott Bessent, said on X that “To increase the global reach of existing supply, @USTreasury is providing a temporary authorisation to permit countries to purchase…
Mumbai, March 12 (IANS) Global oil prices surged sharply on Thursday as markets remained worried about supply disruptions linked to the ongoing tensions in the Middle East. The rally in crude prices came despite the announcement of the largest coordinated release of emergency oil reserves by the International Energy Agency.Benchmark crude prices climbed more than 8 per cent during the day. West Texas Intermediate rose around 8.8 per cent to trade near $95 per barrel, while Brent crude gained abo…
New Delhi, March 10 (IANS) Amid war de-escalation hopes in West Asia, crude oil prices drop almost 6 per cent in early trade on Tuesday, after crossing the $100 a barrel on Monday.While Brent futures dropped $6.51, or 6.6 per cent, to $92.45 a barrel, US West Texas Intermediate (WTI) crude was down $6.12, or 6.5 per cent, to $88.65.The oil prices fell after President Donald Trump said that the US campaign against Iran would end “very soon”, defining victory as the point at which Tehran no lo…
New Delhi, March 9 (IANS) Petrol and diesel prices in India are unlikely to be raised immediately despite global crude oil crossing $110 a barrel amid the escalating Middle East tensions.Government currently expects state run oil marketing companies (OMCs) to absorb the impact for now and pump prices of fuels will remain the same. OMCs may have to accept lower profits amid the spike in international oil prices, according to sources.West Texas Intermediate rose 27 per cent to $116 per barrel, whi…
Washington, March 9 (IANS) Oil prices surged past $100 a barrel as the conflict involving Iran disrupted energy flows through the Strait of Hormuz and rattled global markets.US President Donald Trump defended the spike. He said higher oil prices were a temporary cost tied to confronting Iran’s nuclear threat.“Short-term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace,” Trump wr…
New Delhi, March 7 (IANS) Crude oil prices surged further on Saturday to reach $91.84 per barrel amid the escalating US-Israel and Iran war.Brent crude reached $91.84 while West Texas Intermediate (WTI) hit $89.62. With this, both Brent and WTI have jumped 24.55 per cent and 32 per cent, respectively, reviving fears around consumer prices.Brent crude futures crossed $90 per barrel for the first time since April 2024. WTI crude advanced 11 per cent to the day’s high of $89.62 per barrel.Earlier, …
New Delhi, March 6 (IANS) Qatar’s Energy Minister Saad al-Kaabi has warned that war in the Middle East continuing for a “few days” could cause Gulf exporters declaring force majeure, halting deliveries, pushing oil to $150 a barrel and natural gas to $40 per MMBtu (Metric Million British Thermal Unit) within weeks.”Everybody that has not called for force majeure we expect will do so in the next few days if this continues. All exporters in the Gulf region will have to call force majeure,” the m…
New Delhi, March 6 (IANS) After a surge of over 15 per cent since last week when the US-Israel and Iran war began, oil prices dropped early on Friday after the US said it would allow a 30-day waiver for Indian refiners to purchase Russian oil stranded at sea.The April contract of the benchmark Brent crude on the Intercontinental Exchange was trading at $84.21 per barrel, down by 1.52 per cent from its previous close. The West Texas Intermediate on the Intercontinental Exchange fell 2.10 per cent…