Wti Crude

The rise in crude oil prices, driven by geopolitical tensions, poses challenges for Indian Oil Corporation, Hindustan Petroleum, and Bharat Petroleum. If prices remain high, OMCs may face pressure on marketing margins, affecting their earnings and potentially leading to higher retail fuel prices.

Paint stocks such as Berger Paints and Asian Paints faced significant losses amid escalating Middle East tensions and rising crude oil prices. Higher oil costs threaten profitability for paint manufacturers, potentially leading to increased consumer prices and lower demand.

Crude Oil Prices Highlights: Israel launched a new wave of strikes on Tehran and Iran responded with more missile barrages. Iran has said it has closed navigation through the Strait of Hormuz, prompting Asian governments and refiners to assess oil stockpiles.

Emkay Wealth Management believes that the global crude oil prices may witness a marginal uptick in the near term amid ongoing geopolitical and supply-side uncertainties, but the broader outlook for Brent crude remains largely range-bound, with limited scope for a sustained rally.

India, which imported around 400,000 barrels per day of Venezuelan crude before sanctions were imposed in 2020, currently procures a negligible quantity from the country. And not all Indian refineries can process viscous and heavy crude from the Latin American nation.

Brent crude futures gained 87 cents, or 1.5%, to trade at $59.79 per barrel by 0730 GMT, while U.S. West Texas Intermediate crude advanced 85 cents, also up 1.5%, to $56.12 per barrel. However, crude oil prices remain below $60 per barrel.

Crude prices rose on December 4, with Brent crude at $63 and WTI at $59.45, following Ukrainian attacks on Russian oil supplies. Despite gains, weak demand and rising US inventories capped prices, while Fitch Ratings revised oil price forecasts downward due to oversupply concerns.

Analysts believe that crude oil price rally could sustain in the near term, especially if these supply-side constraints continue and markets remain nervous about secondary sanctions.

Russia currently accounts for about one-third of India’s total oil imports. India and China remain the two largest buyers of Russian seaborne crude, which is under US and European Union sanctions.

Donald Trump and Russian President Vladimir Putin are set to meet in Alaska on Friday, 15 August 2025. Investors and market experts await the talk results as they expect oil prices to remain volatile in the commodity market.