Oil Price Today (July 8): Crude oil tops 5% in two days as ‘powerful’ US strikes on Iran revive supply fears. What’s unfolding?
Brent crude futures climbed $1.62, or 2.16%, to $76 a barrel, while U.S. West Texas Intermediate crude gained $1.63, or 2.31%, to $72 a barrel. Both benchmarks had already advanced about 3% on Tuesday after the United States withdrew the general licence that had allowed the sale of Iranian crude following the vessel attacks.
SpaceX’s biggest bull sees valuation soaring above $10 trillion
Raymond James analyst Brian Gesuale initiated coverage on SpaceX with a strong buy. He set an $800 price target, projecting significant future stock appreciation. Gesuale sees SpaceX revenue soaring to $5.2 trillion by 2035. This growth is primarily based on its nascent artificial intelligence business. The analyst believes AI will become SpaceX’s largest revenue source […]
US oil prices jump after US military launches strikes against Iran
U.S. oil prices increased significantly after military strikes against Iran. These actions followed Iranian attacks on three commercial vessels in the Strait of Hormuz. A Qatari liquefied natural gas tanker reported being struck by a drone. Maritime security sources indicated a Saudi-flagged crude oil tanker was also damaged. Fears of disruptions to tanker traffic through […]
As issues line up, many companies join pre-IPO placement queue
Pre-IPO placements are making a comeback in India after a quiet start to 2026. Companies are securing valuations and marquee investors before their public offerings. Several firms have already raised funds, with more planning placements soon. This strategy helps de-risk upcoming initial public offerings for issuers. Institutional investors gain early access and valuation insights through […]
10-year yield seen slipping to 6.64% as Fed bets ease
Indian government bonds may see further gains as US jobs data eases rate hike concerns. The potential inclusion of Indian sovereign bonds in a major index also supports bond prices. Retreating crude oil prices further contribute to the positive outlook for these bonds. Benchmark 10-year yields have already declined and are expected to ease more. […]
ARC consolidation: Govt weighs ASREC merger with NARCL
The government is considering a merger of ASREC Asset Reconstruction Company with NARCL to enhance the functionality of state-sponsored bad-loan resolution efforts. This proposal, still in preliminary discussions, underscores a strategic effort for consolidation rather than growth. ASREC ARC is majorly held by public sector lenders and LIC, aiming for better management and scrutiny of […]
Irdai asks state-run insurers to account for wage costs annually
Irdai has implemented a new requirement for state insurers to create annual provisions for wage increases, intending to soften the financial repercussions of periodic wage negotiations. Insurers are now obliged to evaluate the sufficiency of these provisions quarterly after obligations become clear. The government has ruled out options for additional capital, instead banking on solvency […]
Cost pressure to keep Q1 profit growth muted for Nifty 50 companies
Nifty 50 companies anticipate double-digit revenue growth for the June 2026 quarter. Profit growth is projected to remain in single digits due to margin compression. Input cost inflation and elevated crude prices are impacting profitability significantly. Companies with strong pricing power are expected to better protect their profit margins. Select sectors like automobiles and banking […]
Cost of free alerts: RBI’s SMS order may dent banks’ income by Rs 300 crore
Banks have also been given the flexibility of dropping mandatory alerts for lowvalue transactions. However, top-draw private banks, such as HDFC Bank or ICICI Bank, are unlikely to reduce SMS alerts for such transactions to ensure their reputation for technology adoption and customer experience isn’t compromised.
Rupee rallies 50 paise as cheaper crude lifts sentiment
The Indian rupee saw its best day in nearly a month, gaining against the dollar. This rise followed reports of Saudi Arabia reducing crude oil prices for Asian buyers. Geopolitical tensions eased, and shipments fully resumed through the Hormuz Strait. Foreign portfolio investor inflows into Indian equities also helped stabilize the currency. The rupee reversed […]