Markets▲ Positive
Brent holds atop $110 as geopolitical risk overrides easing physical stress
Indian markets left its position unchanged.
· Business Standard Mkts
The key shift in October is that the oil price rally has changed character from reflecting genuine physical tightness to what could happen next, explains Kaynat Chainwala of Kotak Neo.
The analysis
This is an Input cost / crude event. India imports most of its crude, so input costs pass through to margins downstream and to the rupee. Producers and consumers of the same input move in opposite directions.