CRUDE OIL

Wall Street posts weekly gains, Treasury yields jump as upbeat jobs data ease economic fears

U.S. stocks surged, fueled by a strong employment report and a Tesla rebound, leading to weekly gains across major indexes. The robust jobs data, coupled with rising wages, tempered expectations for near-term Federal Reserve rate cuts. Trade developments, including U.S.-China talks and EU negotiations, also influenced market sentiment, while Treasury yields jumped and the dollar strengthened.

RBI throws a surprise party with big rate cut and Rs 2.5 lakh crore boost

The Reserve Bank of India surprised investors with a significant policy rate cut. This action aims to stimulate economic growth amid receding inflation concerns. The RBI also released substantial liquidity to encourage lending. Governor Sanjay Malhotra emphasized the need for proactive measures. The rate cut is expected to lower borrowing costs for home loans and small businesses.

Opec+ giants pump out additional oil to India

That’s even higher than the 359,000 bpd they had collectively committed to additionally produce under Opec+’s plan to raise output by 409,000 bpd. Saudi Arabia, the biggest contributor to the group's supply increase, delivered the largest incremental volume to India in May, expanding its market share by 3 percentage points over April to 13.1%. The gain was driven by price cuts offered to Asian buyers. Saudi Aramco had cut the May OSP for Arab Light—its flagship grade—by $2.30 per barrel.

Why the stock market rose today? Rate cut hopes among top 4 factors behind 444-point Sensex surge, Nifty above 24,700

Indian stock markets closed positively on Thursday. Pharma stocks and Reliance Industries saw gains. Investor confidence rose due to weaker dollar and falling U.S. Treasury yields. Sensex increased by 444 points, and Nifty gained 131 points. Realty and Pharma sectors led the market. Foreign investors turned net buyers. Oil prices declined due to increased inventories and Saudi Arabia's price cuts.

US stock market futures rise ahead of key jobs data release — what investors need to know about Dow, S&P 500, Nasdaq, tariffs, and economic outlook

US stock market future updates show Dow futures rising 60 points ahead of key jobless claims data and the ECB rate decision. Despite weak private payrolls and services PMI reports, traders stay hopeful as S&P 500 and Nasdaq futures hover near flat. Gold nears record highs, and Brent crude holds above $65 amid Saudi calls for more OPEC+ output. The US Dollar index dips below 99, reflecting economic worries. Investors await Friday’s official jobs report and the ECB’s rate announcement, which will guide market direction in the coming days.

Centre keeps tabs on Trump tariff concessions to other nations

An American delegation will arrive in India to negotiate a bilateral trade deal amid legal uncertainties over Trump’s tariffs. The US aims to use baseline and suspended tariffs to secure concessions. India seeks to boost imports of shale gas, LNG, and crude oil from the US to diversify and reduce trade imbalance. The deal’s outcome will influence India’s response to tariff hikes.

Court rulings cloud India-US trade talks

India is carefully assessing the impact of recent US court rulings on trade policies as it seeks a balanced and mutually beneficial trade agreement with the United States. The final terms of the deal will depend on how India's benefits compare to those offered to other nations.

Commodity Radar: Crude Oil caught between war winds and OPEC’s supply surge. 3 things charts suggest

crude oil price today,: Crude oil prices remained steady amid conflicting pressures—rising OPEC+ output and bearish sentiment were offset by Canadian wildfires, tight global inventories, and strong travel demand ahead of summer.

India can increase imports of shale gas, LNG, crude from US: Official

India aims to diversify its import basket by increasing purchases of shale gas, LNG, and crude oil from the US, leveraging lower prices. Trade talks are scheduled amidst uncertainties like potential tariff hikes, with India prioritizing a balanced, mutually beneficial agreement. Both nations are targeting to more than double bilateral trade to USD 500 billion by 2030.

Rupee falls 25 paise to 85.86 against US dollar in early trade

The rupee weakened to 85.86 against the US dollar due to foreign fund outflows, despite positive domestic equities and lower crude oil prices. The decline was limited by a weak dollar index. The RBI's MPC began deliberations, anticipating a repo rate cut. FIIs were net sellers in the equity market.

Oil India's subsidiary to build major aviation fuel plant in Odisha under expansion push

Numaligarh Refinery Limited (NRL) is planning to establish a 200 KTPA aviation fuel plant in Odisha as part of its net-zero initiative, targeting completion by 2040. NRL is also exploring activated carbon production from bamboo dust, with assistance from IIT Guwahati, and expanding its capacity from 3 to 9 MMTPA with a new crude oil pipeline.

Oil prices slip as rising OPEC+ output, tariff fears weigh on outlook

Oil prices declined in early Asian trade. Increased OPEC+ output and tariff concerns impacted the market. Brent crude futures dipped slightly. US West Texas Intermediate crude also saw a decrease. Prices had risen earlier due to Canadian wildfires and Iran nuclear deal worries. OPEC+ production increases are limiting further gains. US-China trade talk caution persists.

Economic momentum holding up despite trade war; FY26 GDP target raised to 6.4%: UBS

UBS has revised India's FY26 GDP growth forecast upwards to 6.4% from 6%, citing resilient domestic demand and potential trade benefits. The brokerage anticipates increased household consumption driven by favorable monsoon expectations and policy stimulus. While capital expenditure growth may slow, the RBI is expected to support growth through rate cuts.

Rupee declines 10 paise to 85.49 against US dollar in early trade

The rupee weakened to 85.49 against the US dollar due to a stronger American currency, rising crude oil prices, and foreign fund outflows. Domestic equities were volatile ahead of the RBI's monetary policy announcement. India's manufacturing sector growth slowed in May, while the economy expanded strongly in the last quarter.

Oil rises on Iran, Russia and Canada supply concerns

Oil prices saw a rise in early Asian trade on Tuesday. This increase is due to supply concerns. Iran is likely to reject a U.S. nuclear deal. This could keep sanctions in place. Production in Canada is also affected by wildfires. OPEC+ agreed to maintain output increases for July. The Russia-Ukraine conflict continues to fuel supply worries.

Rupee rises 12 paise to 85.43 against US dollar in early trade

The rupee saw gains against the US dollar due to positive economic data and expectations surrounding the Reserve Bank of India's monetary policy. Strong GDP growth and GST collections support this. However, volatile stock markets, foreign fund outflows, and rising crude oil prices create headwinds. The RBI's policy decision and PMI data are keenly awaited by the market.

Transformation theme: 9 stocks from the energy & power ecosystem as it transitions to clean energy

The structural transformation in the auto sector is much talked about and given credit by the street. Another sector that has been undergoing a similar transformation, though quietly, is the energy sector. Large companies in the energy space – whether in oil marketing, refining, or any other – have been forming JVs or floating subsidiaries to get into New Energy areas. This transition is much bigger than in the auto space, but a bit too slow to excite the street. So get these stocks on your watchlist.

Oil under $65 a boon for consumers, but a burden on producers

Oil prices have plummeted to pandemic-era lows due to factors like Trump's tariffs, increased OPEC+ output, and calls to boost drilling. This benefits consumers through lower inflation and increased disposable income, but it hurts oil-producing nations, especially high-cost producers and those heavily reliant on oil revenues.

Domestic gas price drops to two-year low of $6.41/mmbtu, first time below ceiling

Good news for consumers as domestic natural gas prices hit a two-year low. The price is now $6.41 per mmbtu for June. This benefits city gas companies and other users. Cooking and transportation costs may decrease. The government sets the price monthly based on crude oil prices. Lower crude prices also reduce the cost of new well gas.

Import duty cut on crude edible oils will protect local processors: Industry bodies

The government has reduced the basic custom duty on crude palm, soyabean, and sunflower oils to 10%, a move lauded by SEA and IVPA. This decision aims to discourage refined oil imports, protect domestic refiners, and increase the duty differential between crude and refined oils to 19.25%.

Rupee rises 19 paise to 85.29 against US dollar in early trade

The rupee strengthened against the US dollar due to lower crude oil prices and sustained foreign fund inflows, despite a firm greenback and volatile stock markets. Market participants remained cautious awaiting domestic GDP data. The dollar index edged higher, while Brent crude declined.

Rain, oil and rate cuts: Crisil’s outlook on India’s next big economic phase

Domestic natural gas prices may fall in June on crude oil decline

Domestic natural gas prices in India are expected to decrease next month, potentially lowering costs for consumers of CNG and PNG. This price drop, driven by declining crude oil prices, marks the first time in two years that domestic gas will fall below the government's ceiling price.