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Market move▼ Bearish for Indian equities
Oil Rises on Geopolitical Risks, Stockpile Decline
The brief
- Oil gained amid geopolitical risks and a decline in stockpiles
- Prices are still expected to decline, but the path lower may be more gradual
- Higher crude prices can pressure Indian oil-marketing companies and raise fuel costs
- Russian crude supplies enabled India to cushion against oil supply shocks caused by West Asian war: Deputy FM
- Russian crude cushioned India from oil shock, says Andrey Rudenko
- Ukraine says it struck Russian oil refinery as drone attacks intensify
- How Trump’s diesel ban threat is making US exports more profitable
- India to hold firm on Russian oil as US-China truce extension puts it in the spotlight