Debasis Mohapatra
Bengaluru, 13 April 2026
WTI crude futures increased as much as 9.3% to shoot above $105 per barrel on Monday after negotiations failed between the US and Iran over the weekend.
The US threatened a blockade of the Strait of Hormuz, effective from 10 a.m. Eastern Time after these unsuccessful negotiations.
“The closure of this critical shipping route has driven sharp increases in oil and gas prices, heightening inflation risks and concerns over global growth. Meanwhile, Saudi Arabia restored full capacity on its East-West pipeline to the Red Sea and resumed output from the Manifa field, offering some supply-side support,” Kedia Advisory said in a note.
Indian market in red:
As negotiations failed, the possibility of Iran versus US & Israel war restarting loomed over the horizon. Investors’ sentiment weighed on the Indian equity market as Nifty was trading down more than 400 points to trade at 23,637 ( 9.50 AM IST), while Sensex was trading 1.78% down at 76,160 in the morning trade.
India VIX surged above 21 as fears of escalation returned with large scale supply disruption being anticipated in the oil market.
Sectors to watch out for:
Oil & gas, paints, chemical industries, and related sectors are in focus as investors anticipate the impact of high oil prices playing out in pricing, revenue and margin in coming days.
