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Market move▲ Bullish for Indian equities
Oil prices fall after Iran asks U.S. to return to failed memorandum of understanding from June
The brief
- Iran asked the U.S. to meet conditions in the June 17 memorandum of understanding
- Lower crude prices can ease input costs for Indian oil-marketing companies and refiners
- Oil prices rebound after Trump rejects peace deal to resolve Iran conflict
- Crude oil price dips as traders weigh US-Iran Hormuz talks, supply risks
- Replacing 1 million bpd of Russian oil could cost India up to $3.7 billion annually
- Italy to Convene Oil Refiners as it Seeks to Boost Fuels Output
- Global Market: VLCC rates hit record as Saudi crude flows jump
US-Iran standoff over reopening the Strait of Hormuz
Oil rose as Iran threatened to widen the conflict and held to a seven-day proposal to reopen the Strait of Hormuz, while Trump rejected the proposal. Iran said indirect talks with the US remained open; Trump said the conflict could end soon but did not rule out further strikes.
Saturday, 26 September
Friday, 25 September
- Oil prices fall after Iran asks U.S. to return to failed memorandum of understanding from June