Petrol, Diesel, and LPG Prices Likely to Rise Amid Crude Oil Price Surge The Indian government is considering raising the prices of petrol, diesel, and liquefied petroleum gas (LPG) cylinders amid a sharp increase in global crude oil prices. According to sources, the cost of petrol and diesel could rise by ₹4-5 per litre, while LPG cylinder prices might increase by ₹40-50. This decision comes as the government seeks to alleviate financial pressure on oil companies and the exchequer, which have been strained by the surge in crude oil costs. The recent hike in crude oil prices, driven by geopolitical tensions and the closure of the Strait of Hormuz, has pushed Brent crude oil prices to over ₹126 per barrel, the highest since March 2022. This has led to significant financial burdens for both the government and oil firms. As of May 1, 2026, commercial LPG cylinder prices had already increased by ₹993, raising concerns about the need for further adjustments. The government’s top officials have stated that the proposed price hikes aim to reduce the fiscal burden caused by the rising cost of crude oil. However, no final decision has been made yet, with discussions ongoing to balance the impact on consumers. Analysts suggest that the government may announce the price changes within 5-7 days, as the current situation requires urgent attention. Despite the global rise in fuel prices, India has managed to keep petrol and diesel prices stable for the past four years. Central Minister Hardeep Singh Puri highlighted this in a tweet, noting that even amid volatile global markets and increased import costs due to the Strait of Hormuz closure, India has avoided raising fuel prices.#india #strait_of_hormuz #brent_crude_oil #lpg_cylinder #hardeep_singh_puri
STI slides 1.2% as Brent price rises above US$100 The Singapore Straits Times Index (STI) closed lower on Thursday (April 23, 2026), dropping 1.2 percent or 58.61 points to 4,944.11, as Brent crude oil prices surged above US$100 per barrel amid escalating tensions in the Middle East. The decline followed a broader market trend where losers outperformed gainers, with 389 stocks falling against 226 advancing. A total of 1.8 billion securities were traded, valued at S$2.3 billion. Thai Beverage (ThaiBev) was the standout performer among STI constituents, rising 3.7 percent to S$0.425, driven by a S$0.015 increase. It was one of four STI stocks that managed to post gains. Wilmar International, Seatrium, and Keppel DC Reit also closed higher, with Wilmar up 0.5 percent to S$3.91, and Seatrium and Keppel DC Reit each rising 0.4 percent to S$2.37 and S$2.38, respectively. Hongkong Land was the worst performer, plunging 4 percent to US$7.60. Local banks faced pressure, with DBS falling 0.4 percent to S$57, OCBC dropping 3.5 percent to S$21.80 as it went ex-dividend, and UOB sliding 0.3 percent to S$36.90. Within the iEdge Singapore Next 50 Index, Olam led gains with an 8 percent rise to S$1.04, while Hong Leong Asia fell 4.4 percent to S$3.25. Regional markets mirrored the volatility, with Hong Kong’s Hang Seng Index losing 1 percent, Japan’s Nikkei 225 falling 0.8 percent, and South Korea’s Kospi rising 0.9 percent. Vishnu Varathan, head of macro strategy for Asia Pacific at Mizuho Securities (Singapore), attributed the oil price surge to persistent tensions in the Strait of Hormuz, where both the U.S. and Iran have engaged in confrontational actions. He noted that these flare-ups have pushed Brent crude above US$100 per barrel and dampened risk appetite. The U.S.#brent_crude_oil #singapore_straits_times_index #thai_beve #wilmar_international #seatrium
Middle East crisis: Oil slides, gold & silver rise on US move to end conflict The United States’ proposal to end the Middle East conflict, including a 15-point plan aimed at resolving tensions with Iran, has triggered a shift in global energy and precious metals markets. Oil prices fell sharply as hostilities between regional powers eased, while gold and silver surged, reflecting investor concerns over potential supply disruptions and inflationary pressures. In late trading on Wednesday, Brent crude oil prices dropped to $97.2 per barrel, a 3% decline, following the announcement of the U.S. plan. This marked a reversal from earlier in March, when Brent had reached a multi-year high near $120 per barrel. The decline in oil prices was attributed to reduced fears of prolonged conflict, though analysts warned that lingering tensions could still impact global energy markets. Larry Fink, CEO of BlackRock, highlighted the risks of rising oil prices, stating that if crude surpasses $150 per barrel due to supply disruptions in the Gulf region even after the war ends, it could trigger a global recession. The ongoing conflict has severely disrupted oil and liquefied natural gas shipments through the Strait of Hormuz, which accounts for about 20% of the world’s energy supply. The International Energy Agency (IEA) described this as the largest-ever oil supply disruption, underscoring the crisis’s scale. Domestic markets in India also saw significant movements. Crude oil futures for April delivery on the MCX platform fell 3% to Rs 8,475 per barrel, while gold and silver futures rose sharply. Gold prices climbed 3.8% to Rs 1.44 lakh per 10 grams, and silver surged 4.7% to Rs 2.34 lakh per kilogram.#iran #united_states #blackrock #brent_crude_oil #international_energy_agency
Stock markets dive as West Asia conflict, crude oil prices continue to dent sentiment The Indian stock market experienced a sharp decline on Monday, March 23, 2026, as tensions in West Asia entered their fourth week, pushing crude oil prices higher and intensifying investor anxiety. The benchmark Sensex and Nifty indices opened sharply lower, with the 30-share BSE Sensex dropping 1,555.62 points, or 2%, to 72,977.34, while the 50-share NSE Nifty fell 479.95 points, or 2%, to 22,634.55. The downturn was exacerbated by a broader bearish trend in global equity markets and sustained outflows of foreign capital. The conflict in West Asia has become a key driver of market volatility, with Brent crude oil prices rising 0.62% to $112.9 per barrel. Analysts highlighted the growing risks of geopolitical instability, particularly around the Strait of Hormuz, which has raised fears of potential disruptions to global energy supplies. Hariprasad K, a research analyst, noted that escalating rhetoric between the U.S. and Iran has further heightened concerns about supply chain vulnerabilities. The rupee also weakened, nearing a record low of 93.94, down 41 paise from the previous day. Foreign Institutional Investors (FIIs) sold equities worth ₹5,518.39 crore on Friday, while Domestic Institutional Investors (DIIs) purchased stocks worth ₹5,706.23 crore. This marked a continued outflow of foreign capital, with FIIs pulling out ₹88,180 crore from Indian equities this month. Asian markets mirrored the global downturn, with South Korea’s Kospi index plunging nearly 6%, Japan’s Nikkei 225 falling over 4.6%, and China’s Shanghai Composite and Hong Kong’s Hang Seng indices trading sharply lower. The U.S. market also closed significantly lower on Friday, reflecting a broad-based risk-off sentiment.#nifty #strait_of_hormuz #sensex #brent_crude_oil #west_asia_conflict
Asian Stocks Drop Amid Oil Price Surge Asian stock markets opened sharply lower on Monday, driven by a sharp rise in oil prices and concerns over economies reliant on Middle Eastern energy imports. South Korea’s Kospi index fell over 7.8% or 437 points to 5,147, while Japan’s Nikkei 225 dropped 6.6% or 3,683 points to 51,937. Hong Kong’s Hang Seng Index also declined, losing 2.4% or 626 points to 25,131. The sell-off followed a surge in global energy prices, with Brent crude oil surpassing $118 per barrel and US West Texas Intermediate (WTI) rising 30% from Friday’s close of $90.90. The spike in oil prices, now at its highest level in 14 years, has raised fears of economic strain, particularly for nations dependent on energy imports. The last time oil prices exceeded $100 was in 2022, shortly after Russia’s invasion of Ukraine. Analysts attribute the recent surge to worries that Middle East tensions could disrupt oil exports from the Persian Gulf, a critical hub for global energy supplies. The rise in energy costs is intensifying pressure on economies already grappling with inflation and trade barriers, including higher tariffs on exports to the United States under former President Donald Trump. The impact of sustained oil prices above $100 per barrel is expected to be severe. Investors are concerned about the combined effects of slowing economic growth and high inflation, which limit the Federal Reserve’s ability to address both challenges simultaneously. Wall Street showed signs of unease ahead of the week, with the S&P 500 declining 1.3% on Friday after data revealed a rise in U.S. job cuts. The Dow Jones Industrial Average fell as much as 945 points before closing down 453 points, or 0.9%, while the Nasdaq composite dropped 1.6%. The U.S.#japan #south_korea #hong_kong #brent_crude_oil #us_west_texas_intermediate
