Crude oil is moving towards the $100-a-barrel mark as tensions in West Asia intensify, raising concerns for economies and central banks globally, incl…
1/6Crude oil | Oil prices climbed to their highest level in nearly seven weeks on Monday. Brent crude, the global benchmark, gained 1.3% to $97.52 a barrel after touching $97.93, its highest level since July 23. US West Texas Intermediate (WTI) crude also advanced 1.3% to $92.68 a barrel, briefly crossing the $93 mark to hit its strongest level since late July.
2/6US-Iran war | The US said it launched strikes against three Iranian oil tankers over the weekend, destroying one, in retaliation for ballistic missile attacks on US Navy warships. In response, Iran’s top security official said a new restricted zone outside of Hormuz will be declared in the coming days, beginning at the US Navy blockade line and extending into parts of the Persian Gulf, Press TV reported. Iran also said it targeted three US-linked tankers, but there was no independent corroboration.
3/6Donald Trump statements | US President Donald Trump posted a stream of AI-generated images and a series of sweeping and unverified claims on Truth Social on Sunday, including saying that he has made hundreds of billions of dollars on stocks and other holdings for the US.
4/6Life insurance companies | Life insurance companies reported strong growth in first-year premiums in August, with total industry premium rising 33.1% year-on-year to ₹41,198 crore, according to the latest industry data.
5/6Defence projects | The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, has granted administrative approval for projects worth ₹1.1 lakh crore for the Indian Army, Air Force and Navy. The council cleared proposals for helicopters, radars, vehicles and turbines, among other equipment, while emphasising indigenous procurement. It said that 98% of the Acceptance of Necessity (AoN) approvals would be sourced from Indian industry.
6/6Copper | Copper surged to its highest-ever price on the London Metal Exchange after a weeks-long rally fueled by anticipation that President Donald Trump will expand US tariffs to imports of refined metal. Benchmark three-month futures on the LME gained as much as 0.8% to trade at $14,533 a ton, beating the previous record set in January. The metal’s 17% advance over the past year has been underpinned by a long-term mismatch in supply and demand. The world’s ageing fleet of big mines is struggling to keep pace with usage from data centers, renewable energy and power grids — a backdrop trumpeted by copper bulls for years.
