Monday’s trading is centred on oil and gas equities because the price of Brent crude oil is close to $60 per barrel, while the price of US WTI crude oil fell below $60 per barrel. It will have an impact on Indian businesses that refine crude oil and produce petroleum products.
The US President’s reciprocal tariffs on its trading partners caused a decline in crude oil prices, which is expected to have a longer-term negative impact on oil consumption.
A basket of oil and gas stocks, the Nifty Oil & Gas index, fell 3.78% during the previous trading session. Almost 4% has been taken off the index in the past week. Nonetheless, during the past month, the index has provided a return of 3.5%. It has dropped by 5.5% during the last three months.
