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Oil prices decline amid Israel-Hamas peace talks, Fed rate cut expectations

Brent crude futures for June, set to expire on Tuesday, fell by $1.25, or 1.4%, to $88.25 a barrel as of 11:13 a.m. EDT (1513 GMT).

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OPEC cuts and geopolitical tensions propel Brent crude up by over 13% in 2024

Brent crude futures surged 13.4% to $87.26/barrel due to Middle East tensions, OPEC cuts, attacks between Ukraine and Russia, and rising oil demand.

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OIS climb: OIS climb hints at rate hike now, crushes hopes of a cut

Given the declining trajectory of local inflation - particularly core inflation - it is unlikely that the Reserve Bank of India would turn to rate hikes after maintaining a status quo on rates for more than a year. What the rise in swap rates show more than anything else is heightened risk aversion and the damage done to rate cut expectations by the abrupt ratcheting up of tensions in the Middle East.

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Oil traders stay bullish as Brent hovers at $90: 'Crude to stay elevated even if Middle East tensions cool down'

Crude price outlook: Morgan Stanley hiked its Q3 Brent crude outlook by $4 to $94 over geopolitical conflicts, while other analysts see a supply deficit of one million barrels per day in 2024 due to the prevailing OPEC cuts.

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Oil prices drop after high US crude stock offsets impact of Middle-East conflict ; Brent at $89/bbl

Brent crude futures last dropped 28 cents, or 0.3 per cent, to $89.14 per barrel, while US West Texas Intermediate crude futures fell 35 cents, or 0.4 per cent, to $84.88

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Oil price pare gains, ease for second day over Gaza ceasefire talks; Brent at $89/bbl

Crude oil may still rise as analysts have warned that without an end to the conflict, there is an elevated risk that other countries, particularly Iran, could be drawn into the war.

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Oil stabilises after surging over 4% last week; brent crude at $91.01/bbl

At 13:35 GMT, Brent crude futures showed a decrease of 16 cents, or 0.2%, standing at $91.01 per barrel.

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Oil is hitting its highest level in months

Brent crude futures, the benchmark, have climbed 16% in 2024 to just under $90 a barrel, a level last breached in late October.

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OMC stocks feel the pinch after the Union Government raises windfall tax

The latest hike in windfall tax marks the fifth such increase since February. The move by the Indian government comes as global oil prices continue to rise amid concerns over potential disruptions in supply due to escalating geopolitical tensions.

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Oil prices continue to gain amid worries about supply disruptions; brent crude at $89.76/bbl

Brent crude futures climbed by 84 cents, representing a 0.9% increase, reaching $89.76 per barrel by 11:38 a.m. ET (1538 GMT). Similarly, U.S. West Texas Intermediate futures experienced a gain of 76 cents, or 0.9%, reaching $85.91 per barrel.

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