First WAF crude trade initiated on Argus Open Markets platform
Oil traders have initiated the first west African (WAF) crude cargo transaction on the Argus Open Markets® (AOM®) platform, marking a significant step forward in the development of more transparent, auditable and efficient price discovery for physical crude markets. The deal was initiated on the WAF crude AOM stack. TotalEnergies accepted the offer of a ...
Indian and global markets saw a sharp decline on Monday as US President Donald Trump rejected Iran's ceasefire proposal following the latter's demand for too many concessions. The market's fall was driven by soaring crude prices, which reached over $108 per barrel, exacerbating fears of potential inflation and negatively impacting investor sentiment.
The Indian stock market's benchmark indices, Sensex and Nifty 50, dropped by 1.5% and 1.6% respectively, erasing nearly Rs 9 lakh crore of investor wealth. All sectors, including banks, financial services, IT, oil and gas, and metals, experienced heavy selling pressure. The rupee also weakened after state-owned banks reportedly intervened to stabilize the currency.
Trump's refusal to allow a quick resolution to the conflict in West Asia fueled the market's downward trend, while foreign investors continued to sell Indian shares, adding to the downward pressure. Meanwhile, bond yields surged to 7.18%, the highest since April 2024, reflecting concerns over rising inflation and potential central bank interest rate hikes.
Written by urgent.news from The Indian Express's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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