Commodities
Crude Oil Prices Plummet as Indian Markets Rebound
The Indian stock markets (Sensex and Nifty) rebounded sharply on Monday following a sharp decline in crude oil prices amid easing tensions in West Asia.
Brent crude, the global oil benchmark, tanked 4% lower at USD 92.84 per barrel, a drop from USD 102 four days ago.
Market sentiment improved meaningfully over the weekend after the US and Iran paused military action, easing fears of an immediate supply disruption.
Rajesh Palviya, Head of Research at Axis Direct, noted that the sharp dip in Brent crude price is a positive sentiment for the market.