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Market move▼ Bearish for Indian equities
Oil Extends Gains as US Weighs Sending Carrier to Middle East
The brief
- Oil climbed for a third day as the US weighed sending another aircraft carrier group to the Middle East
- The move could escalate the war with Iran
- Higher crude prices pressure Indian oil marketing companies and fuel-intensive sectors
- CNBC Daily Open: Three’s a crowd: U.S. carrier buildup in Middle East sends oil spiking
- Iran war news LIVE Updates: Fresh attack on Tehran? US sends 9,000 troops, USS Theodore Roosevelt carrier to Middle East
- Oil Edges Higher Amid Rising Mideast Tensions
- Houthis Fired at Holy City of Madinah, Saudi-Led Coalition Says
- Why Are Diesel Prices Soaring and What Would a U.S. Export Ban Do?
Iran conflict and Persian Gulf oil risks
Iran threatened to widen the conflict and warned that regional countries could be unable to export crude, while the US and Iran exchanged responses on a ceasefire proposal. Middle East crude exports recovered to prewar levels, but shipping risks persisted; Indian refiners chartered tankers to collect crude inside the Persian Gulf.
Friday, 2 October
- Oil Extends Gains as US Weighs Sending Carrier to Middle East