Broker call▼ Bearish for Indian equities
Mirae Asset sees oil volatility to persist; prices may stay near $100
The brief
- Middle East crude exports recovered to 17.5 million bpd, about 98% of pre-war levels
- Refined-products recovery remains much weaker
- Persistent oil volatility raises input-cost uncertainty for Indian airlines, refiners and oil-marketing companies
- Yemen forces reclaim key Red Sea port city from Iran-backed Houthis in major counteroffensive
- Saudi-Led Forces Claim Ground Advances in Yemen Against Houthis
- West Asia Crisis: FIA Flags 'Unprecedented' Financial Impact On Airlines, Seeks Urgent Govt Intervention
- Government may review ₹10,000 crore ATF fund as airlines show no interest
- Crude oil price gains on reports of Houthi attacks on Saudi sites
Oil flows and supply risks in the Strait of Hormuz
Oil exports from the Middle East rebounded, with crude flows nearing pre-war levels, but attacks on shipping renewed risks in the Strait of Hormuz. Saudi Aramco’s CEO said rebuilding depleted oil and fuel stocks could take up to two years, while diesel supplies remained tight.
Tuesday, 6 October
- Mirae Asset sees oil volatility to persist; prices may stay near $100