Brent Crude Oil
Crude Oil rallies as OPEC+ cuts output; Trend reversal unlikely hint charts
On Monday, the MCX Crude Oil futures were seen trading above the 100-DMA for the first time in more than six months. Sustained trade above Rs 6,350 can help the trend turn favourable for Crude Oil.
 "Crude Oil rallies as OPEC+ cuts output; Trend reversal unlikely hint charts")
BPCL, HPCL, IOC: Brent crude fall may trigger short-term rally in OMCs
BPCL, HPCL and IOC may rise up to 11 per cent in coming sessions, and if they manage to sustain their upward rally, medium-term bias may strongly shift in bull's favour.
 "BPCL, HPCL, IOC: Brent crude fall may trigger short-term rally in OMCs")
Russia price caps spur India interest in naphtha, fuel oil, but not diesel
India's interest in ramping up Russian oil products imports comes after the world's third largest crude importer became Moscow's top oil client after China as the West shunned supplies from Moscow
 "Russia price caps spur India interest in naphtha, fuel oil, but not diesel")
Barring OMCs, Paint & Tyre stocks may see adverse impact if Brent tops $88
OMC stocks like BPCL, HPCL are better placed on the charts; decisive move over their key hurdles could see next leg of upside
 "Barring OMCs, Paint & Tyre stocks may see adverse impact if Brent tops $88")
Rupee slides 0.5% as importers continue to lock in dollar purchases
FPI outflows, likely RBI dollar purchases weigh on domestic currency
 "Rupee slides 0.5% as importers continue to lock in dollar purchases")
Oil sinks over 8% in 2 days to below $79, biggest one-day loss in 3 months
Brent futures fell $3.70 to $78.40 a barrel, a 2.9 per cent loss. US crude dropped 3.5 per cent, to $73.36 per barrel. Both benchmarks plunged more than 4 per cent
 "Oil sinks over 8% in 2 days to below $79, biggest one-day loss in 3 months")
India's existing deep discounts on Russian crude oil will stay: Officials
A record 24.8 percent of India's crude oil imports came from Russia in the April-September period
 "India's existing deep discounts on Russian crude oil will stay: Officials")
Oil prices slide on concerns over China's demand amid Covid curbs
Brent crude futures fell 45 cents, or 0.5%, to trade at $82.74 a barrel at 0113 GMT. U.S. West Texas Intermediate (WTI) crude futures dropped 51 cents, or 0.7%, to $76.73 a barrel
 "Oil prices slide on concerns over China's demand amid Covid curbs")
Sensex drops 519pts, Nifty below 18,200; Easy Trip up 20%, Archean Chem 12%
CLOSING BELL: Over 35 stocks fell on the Nifty50 index, led by Adani Ports, Hindalco, TCS, HDFC, Tech M, Reliance Industries, Hero MotoCorp, Infosys, Grasim, JSW Steel, and Bajaj Finance
 "Sensex drops 519pts, Nifty below 18,200; Easy Trip up 20%, Archean Chem 12%")
Oil prices fall on worries of US rate hikes, China demand outlook
Brent crude fell $3.08 to settle at $89.78 a barrel, down 3.3%. U.S. West Texas Intermediate (WTI) crude slid $3.95, or 4.6%, to settle at $81.64 per barrel.
 "Oil prices fall on worries of US rate hikes, China demand outlook")
Oil falls as Russian shipments via Druzhba pipeline to Hungary restart
In China, rising Covid-19 cases weighed on sentiment after an easing of virus restrictions this week
 "Oil falls as Russian shipments via Druzhba pipeline to Hungary restart")
Sensex ends subdued day 235 pts up, Nifty swings above 18,200; SBI leaps 3%
CLOSING BELL: The Nifty PSU Bank index sharply outperformed other indices as it gained 4.5 per cent
 "Sensex ends subdued day 235 pts up, Nifty swings above 18,200; SBI leaps 3%")
MCX Crude Oil may turn rangebound; Natural Gas tests key support at Rs 520
The MCX Crude Oil futures are likely to trade in a broad range of Rs 6,900 - Rs 7,770 in the near term. Natural Gas futures can pullback to Rs 580, is support at Rs 520 is sustained.
 "MCX Crude Oil may turn rangebound; Natural Gas tests key support at Rs 520")
Oil prices to top $100 per barrel mark on OPEC+ output cut: Analysts
The OPEC+ on Wednesday announced its decision to cut crude oil output by 2 million barrels per day, the new production cap levels will come into force from November 2022.
 "Oil prices to top $100 per barrel mark on OPEC+ output cut: Analysts")
Analysts expect fuel prices to go up if global prices rise further
Brent crude oil prices remained near three-week highs of $92.9 per barrel as of late Thursday
Global factors, macroeconomic data to drive markets in week ahead: Analysts
Movement of the rupee and Brent crude oil will also remain in focus this week, added analysts
 "Global factors, macroeconomic data to drive markets in week ahead: Analysts")
Brent crude falls 3% on demand concerns, strong USD as Fed decision looms
Crude has dropped substantially after a surge close to its all-time highs in March after Russia's Ukraine invasion added to supply concerns, pressured by the prospects of recession and weaker demand
 "Brent crude falls 3% on demand concerns, strong USD as Fed decision looms")
BPCL disinvestment plans stalled as of now: Oil minister Hardeep Puri
The government currently owns a 52.98 per cent stake in BPCL. It had sought to sell its entire stake in the disinvestment process
Opec+ to cut crude oil output by 100k barrels per day from October
In a step that may increase prices in India, the group has decided to reduce output quotas for October, after a fall in global oil demand outlook.
 "Opec+ to cut crude oil output by 100k barrels per day from October")
OPEC-plus agrees to make token supply cut for Oct to steady oil market
The group will reduce production by 100,000 barrels a day next month, taking supplies back to August levels, it said in a statement
 "OPEC-plus agrees to make token supply cut for Oct to steady oil market")
