Latest news with #Israel-Iran
CNBC
25 minutes ago
- Business
- CNBC
Brent futures down nearly $2 after U.S. delays decision on direct Iran involvement
Brent crude prices pared gains from the previous session and fell nearly $2 on Friday after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict, but they were still poised for a third straight week in the black. Brent crude futures fell $1.89, or 2.4%, to $76.96 a barrel by 0255 GMT. On a weekly basis, it was up 3.8%. The U.S. West Texas Intermediate crude for July - which did not settle on Thursday as it was a U.S. holiday and expires on Friday - was up 53 cents, or 0.7%, to $75.67. The more liquid WTI for August rose 0.2%, or 17 cents to $73.67. Prices jumped almost 3% on Thursday as Israel bombed nuclear targets in Iran, and Iran fired missiles and drones at Israel after hitting an Israeli hospital overnight. The week-old war between Israel and Iran showed no signs of either side backing down. Brent futures trimmed previous session gains following the White House's comments that President Donald Trump will decide whether the U.S. will get involved in the Israel-Iran conflict in the next two weeks. "Oil prices surged amid fears of increased U.S. involvement in Israel's conflict with Iran. However, the White House press secretary later suggested there was still time for de-escalation," said Phil Flynn, analyst at The Price Futures Group. Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries, extracting about 3.3 million barrels per day of crude oil. About 18 million to 21 million bpd of oil and oil products move through the Strait of Hormuz along Iran's southern coast, and there is widespread concern the fighting could disrupt trade flows in a blow to supplies. "The "two-week deadline" is a tactic Trump has used in other key decisions. Often these deadlines expire without concrete action,.. which would see the crude oil price remain elevated and potentially build on recent gains," said Tony Sycamore, analyst at IG.
Economic Times
32 minutes ago
- Business
- Economic Times
Sensex gains over 250 pts, Nifty above 24,850 as bank, auto stocks lead rally
Indian equity benchmarks opened higher on Friday, supported by gains in banking and auto stocks, even as rising tensions between Israel and Iran continued to weigh on global investor sentiment. ADVERTISEMENT At 9:19 am, the BSE Sensex was up 274 points, or 0.34%, at 81,635, while the Nifty50 rose 70 points, or 0.28%, to 24,864 From the Sensex pack, Bajaj Finserv, M&M, UltraTech Cement, SBI, Eternal, Maruti Suzuki, and Axis Bank were the top gainers, rising up to 1.5%. On the flip side, IndusInd Bank, Bajaj Finance, Tech Mahindra, and Titan opened in the red. Meanwhile, Asian peers opened subdued on Friday after reports that Israel had bombed Iranian nuclear sites, triggering retaliatory missile and drone strikes from White House said U.S. President Donald Trump would decide within two weeks whether the U.S. would back Israel the sectoral front, Nifty Bank, Financial Services, Auto, PSU Bank, and Realty indices rose between 0.2% and 0.8%, while Nifty IT, Consumer Durables, and Oil & Gas opened up to 0.3% lower. ADVERTISEMENT Among individual stocks, shares of project financiers PFC and REC jumped up to 4.5% after the RBI issued final guidelines on project financing, streamlining norms across banks, NBFCs, and co-operative banks by replacing multiple legacy circulars. Experts View ADVERTISEMENT "Nifty which has been trading within the 24500-25000 range for about a month now is likely to remain within this range in the near-term. The upper side of the range will be broken only on news of de-escalation of the Israel-Iran conflict or an abrupt end to the war. The lower side of the range is unlikely to break since big buying, particularly by domestic institutions, will emerge on dips. If the war lingers and crude rises beyond $85 the lower band of the range will be broken," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Matalia, Derivative Analyst at Choice Broking, said, "Nifty can find support at 24,700 followed by 24,600 and 24,500. On the higher side, 24,850 can be an immediate resistance, followed by 24,900 and 25,000." ADVERTISEMENT Global MarketsShare markets in Asia struggled for direction on Friday as fears of a potential U.S. attack on Iran hung over markets, while oil prices were poised to rise for a third straight week on the escalating Israel-Iran MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1% but was set for a weekly drop of 1%. Japan's Nikkei slipped 0.2%. ADVERTISEMENT China's blue chips rose 0.3%, while Hong Kong's Hang Seng gained 0.5%, after the central bank held the benchmark lending rates steady as widely expected. Wall Street equities were closed on Thursday. FII/DII Tracker The Foreign institutional investors (FIIs) extended their buying on the third consecutive day on June 19 as they bought equities worth Rs 934 crore. On the other hand, Domestic institutional investors (DIIs) also extended their buying as they bought equities of Rs 605 crore on the same day. Crude Oil Brent crude prices slipped nearly $2 on Friday, giving up gains from the previous session, after the White House postponed its decision on potential U.S. involvement in the Israel-Iran conflict. Despite the pullback, Brent is on track for a third consecutive weekly crude futures dropped $1.89, or 2.4%, to $76.96 a barrel by 02:55 GMT, but remain up 3.8% for the week.U.S. West Texas Intermediate (WTI) crude for July delivery — which didn't trade on Thursday due to a U.S. holiday and expires on Friday — was up 53 cents, or 0.7%, at $75.67. The more actively traded August contract edged up 17 cents, or 0.2%, to $73.67. Rupee vs Dollar The Indian rupee rose 15 paise to 86.58 against the US dollar in early trade. The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, declined 0.34% to 98.56 level. (With inputs from agencies) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
an hour ago
- Business
- Time of India
Stock market today: Nifty50 opens above 24,800; BSE Sensex up over 200 points
Market analysts anticipate continued consolidation, following international market trends and geopolitical situations. (AI image) Stock market today: Nifty50 and BSE Sensex , the Indian equity benchmark indices, opened in green on Friday. While Nifty50 went above 24,800, BSE Sensex was up over 200 points. At 9:22 AM, Nifty50 was trading at 24,831.05, up 38 points or 0.15%. BSE Sensex was at 81,568.71, up 207 points or 0.25%. Market analysts anticipate continued consolidation, following international market trends and geopolitical situations. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, 'Nifty which has been trading within the 24500-25000 range for about a month now is likely to remain within this range in the near-term. The upper side of the range will be broken only on news of deescalation of the Israel-Iran conflict or an abrupt end to the war. There is uncertainty on this. The lower side of the range is unlikely to break since big buying, particularly by domestic institutions, will emerge on dips. If the war lingers and crude rises beyond $85 the lower band of the range will be broken. 'A distinct feature of the market trend visible in yesterday's trade was the weakness in the broader market. While Nifty remained almost flat, SMIDs cracked with the smallcap index correcting sharply by 2%. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like What She Did Mid-Air Left Passengers Speechless medalmerit Learn More Undo This trend of weakness in the broader market is likely to continue since they are excessively valued and the ongoing risk-off can lead to further selling in this segment. Money may move from the over-valued SMIDs to the fairly valued, safe largecaps in financials, industrials, autos and real estate. " S&P 500 futures declined approximately 0.3% from Wednesday's closing in early Asian trading, compared to 0.9% reduction on Thursday during US markets' Juneteenth holiday closure. Japanese and Australian markets remained range-bound. Oil prices were set to increase for the third consecutive week despite Friday's decline, as investors remained cautious amid ongoing warfare between Israel and Iran, with neither nation showing signs of retreat. Gold prices maintained stability on Friday amid heightened geopolitical tensions between Israel and Iran in the Middle East, whilst investors remained cautious about potential US intervention. Foreign portfolio investors sold shares worth Rs 934 crore net on Thursday. Domestic institutional investors were net purchasers at Rs 606 crore. FIIs' position in the futures market decreased from a net short of Rs 99,483 crore on Tuesday to Rs 99,183 crore on Wednesday. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
an hour ago
- Politics
- Time of India
We've used just 5% of total potential: Iranian general says only 30% of military strength deployed, warns they are escalating slowly
Ceasefire will help weakened enemy, says Iran 'Pakistan will nuke Israel' Live Events MORE STORIES FOR YOU ✕ « Back to recommendation stories I don't want to see these stories because They are not relevant to me They disrupt the reading flow Others SUBMIT Pakistan's defence minister calls for Muslim unity Rising toll from Israel-Iran missile exchange (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Iranian Revolutionary Guard senior commander General Mohsen Rezaei has claimed that Iran has deployed only 30 per cent of its current military capabilities and just 5 per cent of its total potential in the ongoing conflict with Israel. He warned that any ceasefire at this stage would allow Israel to regroup and restart attacks. 'We have not yet used all of our weapons, nor the Strait of Hormuz , nor oil, nor naval power, nor the capabilities of our friends and allies,' Rezaei said during a televised hinted that Tehran is ready to intensify military operations further if required. Rezaei said agreeing to a ceasefire now would be a strategic mistake. 'Agreeing to a ceasefire at this stage would only reignite conflict allowing a weakened enemy to regroup,' he warned. According to him, Iran is 'steadily intensifying its military campaign,' and the military has deliberately escalated operations slowly.'One of the reasons we are gradually escalating operations is to give people the opportunity to leave the area,' he in the week, Rezaei also claimed that Pakistan had assured Iran it would retaliate with nuclear weapons if Israel launched a nuclear strike on Iranian territory.'Pakistan has assured us that if Israel uses a nuclear bomb on Iran, they will attack Israel with a nuclear bomb,' said comment was made on Iranian state television, but no Pakistani official has publicly confirmed or responded to the June 14, Pakistan's defence minister Khawaja Asif addressed the national assembly, saying, 'Israel has targeted Iran, Yemen, and Palestine. If Muslim nations don't unite now, each will face the same fate.'He also urged Muslim-majority nations to sever diplomatic ties with Israel and called on the Organisation of Islamic Cooperation (OIC) to create a joint strategy in launched a coordinated wave of airstrikes across Iran on June 14, targeting military and nuclear infrastructure. In response, Iran launched missile attacks into Israeli territory. Despite growing casualties and regional tensions, Iran has signalled that the conflict could escalate further.
Indian Express
an hour ago
- Politics
- Indian Express
‘Second time my son's wedding cancelled': Netanyahu says his family not exempt from ‘personal costs' amid Israel-Iran conflict
Amid the ongoing Israel-Iran tensions, Prime Minister Benjamin Netanyahu provided the example of his son's postponed wedding in an attempt to drive home the point of 'personal costs' during conflict situations, and highlight that even his family 'has not been exempt'. Speaking from outside Soroka Medical Center in Beersheba — struck earlier by an Iranian missile — Netanyahu on Thursday said the ongoing war was affecting every Israeli family, including his own. 'It really reminds me of the British people during the blitz. We are going through a blitz,' Netanyahu said, referring to the current conflict in context to the World War II bombing of Britain which claimed the lives of over 40,000 civilians. 'There are people who were killed, families who grieved loved ones, I really appreciate that,' he added. 'Each of us bears a personal cost, and my family has not been exempt,' he continued. 'This is the second time that my son Avner has cancelled a wedding due to missile threats. It is a personal cost for his fiancée as well, and I must say that my dear wife is a hero, and she bears a personal cost.' Avner Netanyahu's wedding was first scheduled for November but was postponed due to security reasons. It had been rescheduled for this Monday, despite ongoing tensions and threats of protests. According to The Guardian, reports that Netanyahu planned to take a short leave from official duties for the ceremony may have contributed to a false sense of calm in Tehran ahead of Israel's aerial strike. The prime minister's remarks, intended to show solidarity with Israeli citizens, instead drew sharp criticism from the public and the political spectrum. Anat Angrest, whose son Matan has been held hostage in Gaza since the Hamas attack on 7 October 2023, responded: 'I have been in the hellish dungeons of Gaza for 622 days now,' she wrote on social media, adding that the Netanyahu family's suffering 'didn't go unnoticed by my family either.' Gilad Kariv, a Knesset member with the Democrats, called Netanyahu a 'borderless narcissist.' He also challenged Netanyahu's praise of his wife Sara as a 'hero,' stating, 'The doctors who leave home for night shifts are the heroes. The teachers who keep our children together on Zoom and phone calls are the heroes.' As the two sides continue to trade strikes for the seventh straight day, Netanyahu said he trusted that Trump would 'do what's best for America'. 'I can tell you that they're already helping a lot,' he said. This comes as a new diplomatic initiative appeared to be underway as Iran's Foreign Minister Abbas Araghchi prepared to travel Friday to Geneva for meetings with the European Union's top diplomat and counterparts from the United Kingdom, France and Germany. On Thursday, President Donald Trump said he will decide within two weeks whether the US military will get directly involved in the conflict between the two longstanding foes, given the 'substantial chance' for renewed talks with Iran over its nuclear programme. So far, at least 639 people — including 263 civilians — have been killed in Iran, with more than 1,300 injured, according to a Washington-based Iranian human rights group. Israeli officials estimate that Iran has launched roughly 450 missiles and 1,000 drones. Most have been intercepted, but at least 24 Israelis have died and hundreds more have been injured, the military had said. (With inputs from The Guardian)
