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Market move▲ Bullish for Indian equities
Oil Prices Fall Below $100: Brent Holds Three-Month Rally As Flows Recover, But Fuel Shortages Persist
The brief
- Brent for December delivery traded near $98 a barrel, after rising 1.9% in the previous session
- West Texas Intermediate hovered around $90
- Lower crude eases input costs for Indian refiners, airlines and fuel-sensitive companies
- Draft Petroleum Bill Proposes Up To Rs 25 Crore Fine, Jail Time For Unlicensed Operations
- Indian Oil Gujarat refinery to start operating at expanded capacity by end of FY27, executive says
- Nifty slides to six-month low as US-Iran deal hopes fade, oil tops $100 a barrel
- Indian refiners buy costly West Asian barrels as Russian supply narrows
- Brent Stays Elevated Even As Saudi Arabia's East-West Pipeline Resumes Oil Exports