Global markets LIVE updates: India’s Sensex, Nifty50 crash, global diesel prices surge amid Iran-US war

Global markets LIVE updates: Crude oil prices rose by ₹93 to ₹7,018 per barrel in futures trade on Wednesday as traders expanded their positions amid firm demand in the spot market.

On the Multi Commodity Exchange, crude oil contracts for April delivery climbed ₹93, or 1.34 per cent, to ₹7,018 per barrel in a turnover of 2,516 lots.

Analysts said increased participation by traders helped keep crude oil prices higher in the futures market.

In the global market, West Texas Intermediate crude was trading 2.32 per cent higher at USD 76.28 per barrel, while Brent crude gained 2.52 per cent to USD 83.46 per barrel in New York.

Global markets LIVE updates: Gold held steady at $5,163 per ounce in Asian trade, while the Australian dollar slipped below 70 US cents. On Wall Street overnight, major indexes recovered from steeper declines, with the S&P 500 ending 0.8% lower.

The euro remained pinned at $1.16 as surging energy costs weighed on the currency. Benchmark European gas prices have jumped about 66% over the past two days.

Coal prices are also reacting to the energy crunch, with Australia’s benchmark Newcastle coal price rising nearly 17% so far this week.

Global markets LIVE updates: Benchmark Brent crude futures were trading at $82.08 a barrel, putting prices on track for a gain of more than 13% this week, as the conflict involving Iran continued to disrupt energy markets.

However, prices eased from earlier highs after US President Donald Trump ordered an insurance guarantee for shipping in the Gulf and said the US Navy could escort oil tankers through the Strait of Hormuz.

The surge in oil prices comes as US and Israeli forces have carried out strikes on Iran since Saturday, while Iranian drones and missiles have targeted Gulf oil refineries as well as US embassies in Saudi Arabia and Kuwait.

Global markets LIVE updates: Japan’s Nikkei index fell 3.9% while Taiwan’s stock market dropped 4.3% as investors rushed to sell semiconductor stocks, one of the hottest trades in recent months.

Market participants appeared to be unwinding positions in chipmakers to cover losses elsewhere and reduce overall risk exposure amid rising global uncertainty.

Oil prices today LIVE updates: The benchmark BSE Sensex was trading sharply lower on Wednesday, falling 1,485.08 points or 1.85 per cent to 78,753.77 as of 11:56 am IST, amid weak investor sentiment and broader market volatility.

Oil prices today LIVE updates: Diesel’s premium to crude oil increased to its highest since the summer of 2023, with Benchmark diesel futures in Europe trading over $40 per barrel above crude earlier on Tuesday, Bloomberg reported.

Oil prices today LIVE updates: The rupee plunged 69 paise to a record low of 92.18 against the US dollar in early trade on Wednesday, as a sharp rise in crude oil prices following the escalation of the US–Iran conflict weighed heavily on investor sentiment.

Forex traders said the domestic currency is under intense pressure after global oil prices spiked, with Brent crude futures crossing the USD 82 per barrel mark amid the Iran crisis.

Oil prices today LIVE updates: Totsa, the trading arm of TotalEnergies, has offered to sell up to 2 million barrels of Oman crude for April loading, traders said, marking the first tender for Middle Eastern oil since the Iran war disrupted regional exports.

Global oil and gas prices have surged this week as the U.S.-Israeli war on Iran halted energy shipments from parts of the Middle East and pushed freight rates sharply higher.

Shipping through the Strait of Hormuz — a key route for roughly a fifth of the world’s oil and liquefied natural gas — remains shut after Iran attacked five vessels.

According to traders, the cargoes being offered by Totsa will load between April 1 and April 27 from Oman’s Mina al-Fahal port, which lies outside the Strait of Hormuz.

The tender is scheduled to close at 5 p.m. Singapore time (0900 GMT) on Wednesday.

Oil prices today LIVE updates: Oil prices rose about 1% on Wednesday as the US-Israeli war with Iran disrupted supplies in the Middle East, though gains slowed after US President Donald Trump suggested the US Navy could escort vessels through the Strait of Hormuz.

Brent crude rose $1.17, or 1.4%, to $82.57 a barrel by 0408 GMT, after closing at its highest level since January 2025 in the previous session.

US West Texas Intermediate crude gained 72 cents, or 1%, to $75.28 a barrel, after settling at its highest level since June.

Both benchmarks have risen about 5% or more over the past two sessions amid concerns over potential supply disruptions in the region.

Oil prices today LIVE updates: India’s benchmark equity indices, the Sensex and Nifty, declined in early trade on Wednesday as the widening conflict in the Middle East pushed oil prices higher and weighed on Asian and global markets.

Oil prices today LIVE: Diesel’s premium to crude oil increased to its highest since the summer of 2023, with Benchmark diesel futures in Europe trading over $40 per barrel above crude earlier on Tuesday, Bloomberg reported.

Oil prices rose 1 per cent amid the intensifying US-Israeli war, as Brent surged 1.4 per cent to $82.57 per barrel, the highest since January 2025. US West Texas Intermediate crude, meanwhile, rose 1 per cent to $75.28.

Japan’s Nikkei share average reached its one-month low on Wednesday, as it tanked by 4.7 per cent as trading resumed in the afternoon (local time).

The index was last down 4 per cent, its lowest since February 6. The broader Topix lost 4.33% to 3,608.54, Reuters reported.

Oil India Ltd., share price on Wednesday rose by more than 4 points. The margin at 10:09 am stood at 5.15 points, and the price was recorded at ₹493.20.

Oil prices today LIVE updates: South Korea’s benchmark Kospi index tanked by more than 12 per cent on Wednesday as the conflict in the Middle East continued to escalate.

The Kospi dropped 12.6 per cent to 5,065.14 in early afternoon trade (local time). On Tuesday, it had tumbled 7.2 per cent, suffering its worst two-day performance since 2008 during the global financial crisis, Bloomberg reported.