Asian equity markets rebound sharply as Iran-Israel ceasefire boosts global risk sentiment; Hang Seng leads early session gains.
Gnanasekar Thiagarajan, Co-founder & CEO of Commtrendz Research discusses the big drop in oil prices after Trump declares ceasefire between Israel and Iran and highlights that India remains relatively insulated to oil price shocks, thanks to its diversified supply and strategic reserves.
Oil extended a slump as President Donald Trump announced a tentative ceasefire between Iran and Israel. Global benchmark Brent tumbled almost 5% toward $68 a barrel in early Asian trading, before paring some of that drop.
WTI crude oil shows strong volatility between $65 and $80 amid supply disruption risks, while natural gas remains in a bullish trend above $3.
U.S. crude futures fell on Tuesday to their lowest level in more than a week as U.S. President Donald Trump said a ceasefire has been agreed between Iran and Israel, relieving worries of supply disruption in the area.
Well-supplied markets and weakening demand for crude concern American drillers.
Tanker operators in the Strait of Hormuz are facing higher shipping and insurance costs, despite a drop in oil prices, as investors wait to see what happens to the world's most important crude chokepoint after the U.S. bombing of Iran's nuclear sites.
Energy was the worst-performing sector of the S&P 500, which rose 1%. U.S. oil futures fell 7.2%.
There may have been more to Iran's telegraphed attack on a U.S. base in Qatar than meets the eye, strategists say.
Crude oil prices dropped by 7% on hopes that the conflict would not immediately disrupt region's oil supplies
The energy market is undergoing a live stress test, Carolyn Kissane writes.
Oil plunged by more than 7% as Iran's response to US military strikes spared energy infrastructure, allaying investor concerns that the conflict would severely disrupt supplies from the Middle East. Alix Steel reports on Balance of Power.