Crude oil rises over banking disruption
Oil prices climbed in early trade on Monday as concerns over turmoil in the banking sector eased, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe. Brent crude futures gained 33 cents, or 0.4%, to $75.32 a barrel at 0040 GMT. U.S. West Texas Intermediate crude was at $69.65 a barrel, up 39 cents, or 0.6%. Brent rose 2.8% last week, while WTI rebounded 3.8% as jitters in the banking sector eased.
Market Snapshot : Morning
GILTS<>Down as US yields rise, large State-securities supply on Tuesday. US yields rise due to caution about turmoil in global banking system. Volume low on lack of significant domestic cues.--7.26%, 2032 gilt: 7.3285% vs 7.3128% Fri; 7.3255%--1-day call rate: 6.75% vs 6.70% 3-day Fri; 6.75% at open--RUPEE<>Sharply up due to slump in crude oil prices, banks’ dollar sales likely for exporters. Key technical resistance pegged at 82.10--Spot rupee: 82.3250 per $1 vs 82.4800 at 1530 IST Fri; 82.370
Market Snapshot : Morning
STOCKS <> Indices open higher. Phoenix Mills up 4% as Morgan Stanley rates stock 'overweight'. FSN E-Commerce down 2.1% after top executives of the company resigned.--Sensex: 57705.80, up 178.70 points or 0.3% vs Fri, 57566.90 at open --Nifty 50: 17012.95, up 67.90 points or 0.4% vs Fri, 16984.30 at open<>CRUDE OIL<>--Brent crude futures gained 33 cents, or 0.4%, to $75.32 a barrel at 0040 GMT. U.S. West Texas Intermediate crude was at $69.65 a barrel, up 39 cents, or 0.6%.