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Market move▼ Bearish for Indian equities
Oil rises as Iran holds to Strait of Hormuz proposal rejected by Trump
The brief
- Oil rose as Iran stuck to its seven-day proposal to reopen the Strait of Hormuz
- Trump rejected Iran’s proposal, threatening further delays in reopening the strait
- Higher crude prices pressure Indian oil marketers and raise costs for fuel-consuming sectors
- Dibrugarh set to resume international cargo movement on Brahmaputra after nearly 80 years
- Europe braces for LNG tug of war with Asia
- Value of old supertankers soars past new builds as market goes ‘bananas’
- Jaishankar calls targeting of commercial shipping, seafarers ‘simply unacceptable’ amid Gulf conflict
- India, Turkey, Egypt part of talks to unblock Black Sea shipping: Zelenskyy
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.
Monday, 28 September
- Oil rises as Iran holds to Strait of Hormuz proposal rejected by Trump