July, 28 2026 Tuesday 14:29 Hrs
Last update 11-9-2025
  • SENSEX :   76,800.22

  • Top commodity trading and broking companies in India-35.56( -0.05%) 28-Jul-2026

Mid Session Commentary - Detailed News

Oil drops 2% on ceasefire hopes, supply fears recede
28-Jul-26   13:06 Hrs IST
Crude oil prices fell sharply on Tuesday, with benchmark futures slipping around 2% as a pause in hostilities between the U.S. and Iran eased fears of further disruptions to global energy supplies. Although Iran denied reports of agreeing to a formal ceasefire, the temporary halt in fighting improved market sentiment and reduced the geopolitical risk premium that had fueled oil's recent rally. Adding to the bearish outlook, the resumption of tanker loadings at Kazakhstan's key export terminal helped ease supply concerns. Meanwhile, a slightly weaker U.S. dollar and investor caution ahead of the Federal Reserve's policy decision also influenced trading. On the domestic front, MCX August crude oil futures declined nearly 2% to around ₹7,800 per barrel. With geopolitical tensions showing signs of cooling and supply flows improving, crude oil may remain under pressure in the near term, though markets continue to closely monitor developments in the Middle East and the Fed's policy outlook.

Powered by Commodity Insights

Top

Attention Investor:

Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers/Depository Participant.     KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, ,Mutual ).    No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.