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▼ Bearish for Oil India
Trump declines to reveal next move on Iran, says conflict 'won't be long'
The brief
- Trump predicted oil prices would fall once the Iran conflict ends, but gave no details of his next move
- Lower crude prices would help Indian fuel importers but pressure upstream producers such as Oil India
- US-Iran war news LIVE: Two oil tankers attacked in Strait of Hormuz by 'unidentified projectiles,' says UKMTO
- Asian shares fall as US jobs data looms after Treasury yield hits 24-year high
- Buy ONGC, Sell Oil India| Kotak raises FY27 oil price assumption to $90
- Oil retreats as market weighs mixed supply signals
- No global oil shortage, supply route disruptions driving crude prices, oil minister says
Iran conflict, diplomacy and oil-market risks
Oil rose above $106 a barrel amid threats to widen the war and Strait of Hormuz risks, while Indian refiners chartered tankers to collect crude inside the Persian Gulf. Iran said it received a US response to a peace proposal and offered nuclear inspections if sanctions are eased; Washington weighed further military steps.
Saturday, 3 October
- Trump declines to reveal next move on Iran, says conflict 'won't be long'