Crude Oil prices fell to USD 93.367, registering a decline of USD 1.113, or 1.18 per cent, reflecting continued pressure on energy markets. Meanwhile, Brent also edged lower, trading at USD 106.845, down USD 1.165, or 1.08 per cent on the day. The softer performance across key oil benchmarks highlights cautious sentiment among investors as global supply-demand dynamics and macroeconomic concerns continue to influence price movements.
US equity markets saw a sharp sell-off, weighing on broader risk sentiment. The Dow Jones Industrial Average slid nearly 469 points, or about 1 per cent, while the S&P 500 fell 1.7 per cent. The tech-heavy Nasdaq dropped 2.3 per cent, officially entering correction territory, as technology stocks led the decline. Energy stocks, however, outperformed the broader market amid rising oil prices and heightened geopolitical tensions.
Market volatility intensified on escalating conflict risks in the Middle East, and the potential confrontation between the US and Iran. Fears of supply disruptions boosted crude prices, with Brent crude jumping more than 4 per cent in the previous session. The spike in oil prices reflected growing investor concern over energy flows amid uncertainty surrounding the region’s stability.
Adding to the uncertainty were mixed signals from Washington and Tehran. US President Donald Trump announced a roughly 10‑day pause on strikes targeting Iranian energy infrastructure, stating that talks with Iran were “going well” and suggesting a window for negotiations. Iran, however, rejected the US proposal as one‑sided, while a Wall Street Journal report said Tehran did not request a pause in strikes, contradicting Trump’s remarks and keeping geopolitical risks, and oil market volatility, firmly in focus.
At the start of the week, Citi flagged heightened risks in the global energy market, warning that disruptions to the gas supply chain could prove more severe and longer‑lasting than those affecting oil, even as crude prices remain volatile.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
