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Market move▲ Bullish for Indian equities
Higher outflow from Hormuz could unwind premiums; oil may correct by 10-15%
The brief
- Strait of Hormuz crude flows averaged above 10 mbpd, tanker tracker data showed
- Lower crude prices would benefit Indian oil marketing companies and reduce costs for fuel-intensive sectors
- Energy security measures could offset up to 70% of Hormuz oil flows in future disruption: McKinsey
- European Gas Rises as Traders Watch for Further Talks on Hormuz
- Saudi Aramco considering discounts for Oman STS crude to counter high freight rates, sources say
- Baltic dry bulk freight index drops to near four-week low
- Saudi Arabia’s Key Oil Pipeline Starts Exports After Repairs
US-Iran talks and oil market volatility
Oil rose above $106 a barrel as Iran threatened to widen the war, while Trump’s rejection of Iran’s peace offer heightened fears of prolonged fighting. Reports of mediator-led efforts to end the conflict and reopen the Strait of Hormuz were followed by Trump denying he had offered sanctions relief; markets remained volatile.