Business EconomyPosted at: Jun 17 2026 3:26PM


Crude oil prices continue to ease, hover below USD 77 a barrel

New Delhi, June 17 (UNI) The crude oil prices have continued to ease down after the announcement of peace agreement between US and Iran, coming down to a three-month low. Prices have gone down sharply by nearly 16 per cent with the US benchmark West Texas Intermediate was trading close to USD 77 a barrel.
On the Multi Commodity Exchange, crude oil futures for the July delivery slipped by Rs 63, or 0.88 per cent, to Rs 7,061 per barrel in a business turnover of 4,004 lots.
In its latest Oil Analyst report, Goldman Sachs has cut its Brent crude oil price forecast for the fourth quarter of 2026 to USD 80 per barrel from USD 90 earlier. The research has cited an expected faster recovery in Middle East oil supply following a deal to reopen the Strait of Hormuz.
It said it is reducing its price outlook after US President Donald Trump's announcement of an interim agreement that would lift the US blockade and reopen the Strait of Hormuz.
"We reduce our oil price forecast following President Trump's announcement of an interim deal that would lift the US blockade and reopen the Strait of Hormuz," the report said.
Since the onset of Iran War, that began on February 28, brent crude had surged past $126 a barrel.
The Indian Stock Markets also continue to cheer the peace agreement. Nifty breached 24,000 mark at opening.
Even amid the easing crude oil prices, analysts believe that the fuel prices for consumers may take several weeks or months to fully normalise.
Uncertainties around the implementation of the peace deal could continue to drive volatility in energy markets. UNI VK SAS
Please log in to get detailed story.
Tags: #Crude oil prices continue to ease# hover below USD 77 a barrel
More News

HIPLEX 2026 to showcase latest plastics technologies in Hyderabad from Aug 7

14 Jul 2026 | 9:14 PM

Hyderabad, July 14 (UNI) The Telangana and Andhra Plastics Manufacturers Association (TAAPMA) will organise HIPLEX 2026, one of India's largest international plastics exhibitions, at the HITEX Exhibition Centre here from August 7 to 10.

see more..

Stock Markets end in red led by surge in crude oil prices, weak global cues

14 Jul 2026 | 7:36 PM

New Delhi, July 14 (UNI) The Indian Stock Markets on Tuesday ended sharply lower led by a surge in crude oil prices following escalating tensions and weak global market cues.

see more..

Xebia launches AI-ready data platform Xebia Axis

14 Jul 2026 | 6:09 PM

Bengaluru, July 14 (UNI) Xebia, a global AI-first digital transformation and engineering company, on Tuesday launched Xebia Axis: Agentic Data Foundation, a platform aimed at helping enterprises modernise their data infrastructure and accelerate artificial intelligence (AI) adoption.

see more..

Aditya Birla group to buy Shell's Sprng Energy for Rs 17,200 cr

14 Jul 2026 | 6:05 PM

Mumbai, July 14 (UNI) Aditya Birla Renewables Limited (ABRen), a subsidiary of Grasim Industries Ltd has officially announced the signing of a definitive agreement to acquire 100% equity shares and securities of Solenergi Power Private Limited, which owns the Sprng Energy group of companies, from Shell Overseas Investment B.V., which is a wholly-owned subsidiary of Shell PLC.

see more..

Aditya Birla Group to buy Shell's Sprng Energy for Rs 17,200 Crore

14 Jul 2026 | 6:02 PM

Mumbai, Jul 14 (UNI) Aditya Birla Renewables Limited (ABRen), a subsidiary of Grasim Industries Ltd, has officially announced the signing of a definitive agreement to acquire 100% equity shares and securities of Solenergi Power Private Limited, which owns the Sprng Energy group of companies, from Shell Overseas Investment B.V., which is a wholly-owned subsidiary of Shell PLC.
According to the official statement, this transaction is amongst the largest acquisitions in India’s renewable energy sector both by value and scale.

see more..