Market News Today

US crude oil inventories fell to 758.5 million barrels last week, marking the lowest level since March 1985, according to the Energy Information Administration.

India struggles to fully use its renewable capacity due to transmission gaps (300 GWh curtailed Q1 2026), inflexible coal plants (50-55% min load), and concentrated solar development, hindering its 500 GW non-fossil target by 2030.

Ahmedabad introduces a hyperlocal weather forecasting system for monsoon, providing ward-level rainfall predictions at 1.5 km resolution. This enhances flood response, traffic management, and emergency preparedness for the city.

Ahmedabad's rapidly changing weather challenges urban preparedness, impacting infrastructure, public health, and services. Experts urge better integration of weather intelligence into urban planning for long-term resilience against climate uncertainty.

Delhi NCR is phasing out nearly 2 lakh ageing commercial vehicles, including 1.9 lakh freight and 16,000 buses, to combat pollution. This push aims to reshape freight logistics, improve air quality, and incentivize cleaner replacements, despite infrastructure challenges.

Union Minister Kumaraswamy announced the government will review EV industry suggestions on financing, payment security, and faster certification. This aims to support sector growth and accelerate electric mobility adoption, with investment opportunities also highlighted for Mandya.

Meridian Energy forecasts secure winter power due to national hydro storage at 125% of average. Consistent inflows and management, with financial year inflows at 118% of average (highest since 1998), ensure supply despite May's dry conditions.

Telangana Minister Uttam Kumar Reddy urged scientific de-siltation for irrigation projects to restore storage, enhance flood protection, and improve water security. Citing Punjab's Rs 2,000 crore flood losses, he stressed long-term investment, studying models like Kerala's Mangalam Dam.

Oman India Fertiliser Company (OMIFCO) plans to diversify its product portfolio beyond urea and ammonia. The strategy includes expanding into higher-value chemicals like water-soluble fertilisers, diesel exhaust fluid, and low-carbon ammonia, aligning with energy transition trends.

MS structural steel prices in India remained stable to firm as infrastructure, industrial construction, and fabrication demand continued to support market sentiment. Primary mills maintained pricing discipline, while secondary market competition capped sharp increases. Comfortable inventories and steady project execution are expected to keep structural steel prices largely supported in the near term.