Market move● Neutral for Indian equities
Oil Prices Mixed Amid Signs of Attacks Around Strait of Hormuz, G-7 Release Plan
The brief
- Oil prices were mixed in early Asian trade amid signs of attacks around the Strait of Hormuz
- The G-7 has a crude-oil release plan
- Oil-price moves affect Indian refiners, oil marketers and fuel-sensitive sectors
- Oil was pouring through the Strait of Hormuz again. Then attacks on shipping resurged.
- More tankers struck in the Middle East as Iran reiterates conditions for reopening the Strait of Hormuz
- Iran says Strait of Hormuz will stay closed until US meets seven conditions
- 325 million oil barrels released to counter global energy crisis: IEA
- Iraq says it moved 2 million barrels of crude through Strait of Hormuz