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Brent Oil Surges to $105 Amid Iran's 'Doomsday War' Threat; Nifty Dips for 7 Weeks
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Moneycontrol•28-09-2026, 08:38
Brent Oil Surges to $105 Amid Iran's 'Doomsday War' Threat; Nifty Dips for 7 Weeks
- •Brent crude oil climbed to $105 a barrel as tensions escalated between the US and Iran, despite earlier hopes for a breakthrough over the Strait of Hormuz.
- •Iranian Foreign Minister Abbas Araghchi declared Iran's readiness for a ‘doomsday war’ with the US, while also expressing openness to diplomacy.
- •The Indian Nifty index experienced its first seven-week losing streak since the COVID period, dropping nearly 6%, though it saw a modest recovery on Friday.
- •US equity indices rallied, supported by lower oil prices and cooling Treasury yields, with the US 10-year yield easing from a 2007 high.
- •India's government plans to borrow ’7.86 lakh crore in H2 FY27, with total FY27 market borrowing projected at ’15.99 lakh crore, below the budget estimate.
Key Questions Answered
Brent crude initially fell to $104 on hopes of a breakthrough between the US and Iran over the Strait of Hormuz, but prices climbed again as the war of words between Washington and Tehran continued.
The Indian market slipped for seven consecutive weeks for the first time since the COVID period, with the Nifty down nearly 6% over the last seven weeks, though it saw a modest recovery above 23,100 on Friday.
The government is set to borrow ₹7.86 lakh crore during the second half of FY27, bringing total FY27 market borrowing to ₹15.99 lakh crore, which is below the initial Budget estimate of ₹17.20 lakh crore.
