Crude

Decision to allow import of jet fuel and diesel refined in third countries is criticised by Tories as ‘insane’The UK government has relaxed strict sanctions on Russian crude oil, allowing for the import of jet fuel and diesel refined in third countries amid surging costs.A trade licence that came into effect on Wednesday permits the imports indefinitely and will be reviewed periodically. It comes at a time of growing concerns over the supply of certain fuels due to the de facto blockade of the strait of Hormuz since the start of the US-Israeli war with Iran. Continue reading...

• Brent crude oil hovers around $100 per barrel amid fears of tightening diesel and jet fuel supplies, exacerbating energy market strains. • Despite rising commodity pressures, the S&P 500 reaches new record highs, creating stark cognitive dissonance in financial headlines. • This divergence underscores investor resilience or detachment from potential inflationary risks in the broader US economic picture.

• Indian equities are expected to remain highly sensitive to geopolitical developments this week, with markets tracking the ongoing US-Iran situation and fluctuating crude oil prices that could trigger sharp movements in large-cap stocks. • Foreign investors have withdrawn Rs 14,231 crore from Indian equities so far in May amid global macroeconomic uncertainties, signaling reduced confidence in the market amid external headwinds. • Key macroeconomic releases this week include India's April CPI inflation data and US inflation prints (CPI and PPI), which analysts warn could materially shape Federal Reserve rate-cut expectations and global risk sentiment.

• Indian equity indices surged sharply on May 6, 2026, with Sensex gaining 940.73 points (1.22%) to close at 77,958.52 and Nifty rising 298.15 points (1.24%) to 24,330.95, driven by optimism over potential US-Iran peace negotiations and declining crude oil prices. • Banking stocks led the rally following the Union Cabinet's approval of an emergency credit guarantee programme worth Rs 15,800 crore to support businesses facing liquidity stress, with Hero MotoCorp climbing 2.6% and Mahindra & Mahindra advancing 3.1% on strong quarterly earnings. • Broader market indices also gained traction, with Nifty smallcap100 and midcap100 rising 0.9% and 1.1% respectively, though FMCG stocks declined amid easing geopolitical tensions in West Asia that had previously pushed Brent crude to $115 per barrel.

• Brent crude oil settled 4.7% higher at $99.39 per barrel on April 16 amid caution over Iran war. • Prices have risen from $70 pre-war to peaks near $119 due to Strait of Hormuz disruptions. • The climb tempers market optimism, highlighting persistent energy supply risks.

• Crude oil futures surged above $85 per barrel Thursday, driven by ongoing supply constraints from geopolitical tensions and maintenance shutdowns at major U.S. refineries affecting production capacity. • Energy stocks in the S&P 500 gained 2.1% on the session, with exploration and production companies outperforming as rising commodity prices improve profit margins and cash flow forecasts. • Analysts noted that refinery capacity utilization fell to 87% this week, the lowest level since January, suggesting tighter margins ahead for integrated energy companies dependent on downstream operations.

• The U.S. Energy Department announced plans Wednesday to loan an additional 10 million barrels of crude from the Strategic Petroleum Reserve as part of a 172 million-barrel drawdown. • West Texas Intermediate crude prices exceeded $112 per barrel due to ongoing Iran conflict disruptions, prompting the reserve release to curb domestic fuel costs. • Critics warn the extensive SPR drawdown heightens U.S. energy vulnerabilities during prolonged geopolitical tensions and supply chain risks through key chokepoints.

The factories, which buy cheap crude and turn it into fuel, are struggling as higher oil prices threaten their razor-sharp margins The towns that are the bulwark of China’s energy security can, at a moment of global crisis, appear deceptively quiet. Trucks carrying oil trundle along wide-open highways that have little traffic, while a few boarded-up shops in crumbling low-rise buildings hint at a long-forgotten local buzz.A ramshackle noodle shop serving hand-pulled ribbons of dough was empty at lunchtime, save for a few construction workers and a teacher watching videos on Douyin, the social media platform, with his meal. Continue reading...

Crude oil benchmarks hover near $100 per barrel, up 70% since early January, with forecasts of $150 highs if the Strait of Hormuz remains disrupted. U.S. fuel prices have risen nearly 35% from January lows, though domestic supplies prevent shortages. Energy producers like Exxon Mobil and Chevron hit record highs, while the Dow Jones fell 6% in a month amid stagflation concerns. Prolonged conflict could reverse Fed rate cuts and pressure consumer sectors further.