Crude

• The S&P 500 and Nasdaq reached record closing highs on Tuesday, diverging from the performance of European markets. • West Texas Intermediate (WTI) crude prices fell, while Brent oil prices spiked, reflecting market volatility. • This shift occurred as investors balanced optimism regarding a potential U.S.-Iran peace deal against the risk of a ceasefire collapse.

• Indian stock markets, including the Sensex and Nifty, have posted a recovery rally driven by a robust corporate earnings season featuring companies like Mamaearth and LIC. • This positive momentum persists despite significant headwinds, including geopolitical tensions and Brent crude oil prices climbing to $105 per barrel. • The rally reflects a broader trend of cautious optimism across Asian markets, with gains seen in Japan's Nikkei 225, South Korea's Kospi, and the Hang Seng.

• GIFT Nifty indicates a positive start for the BSE Sensex and Nifty50 as they enter the final trading session of the week this Friday. • The market is currently navigating volatility driven by high crude oil prices and geopolitical uncertainty surrounding the US-Iran conflict. • Market analysts emphasize that the indices must sustain positions above key resistance levels to confirm a broader, stronger recovery trend.

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.