Market News Today

Officials said the funding pattern consisted of 70 per cent Asian Infrastructure Investment Bank (AIIB) loan support and 30 per cent from state government schemes and CSR funds.

Thermal coal futures eased to $130/tonne from a one-month high of $135.6 on May 4th. This followed a slight pullback in Asian and European natural gas prices, affecting power plant feedstock availability.

European natural gas prices rose Monday as Middle East diplomacy efforts faltered, following the U.S. President's rejection of Iran's peace proposal response, impacting energy markets.

Oil prices jumped 4% as Trump rejected Iran’s ceasefire response. European markets edged lower, while Asian stocks hit new all-time highs amid the ongoing conflict.

European airlines can access US-grade jet fuel to ease supply crunch from the prolonged Middle East conflict, as per May 8 guidance from international aviation bodies and regulators.

Saudi Aramco CEO reports the oil market is losing approximately 100 million barrels weekly due to ongoing disruptions in the Strait of Hormuz.

India urges reduced gasoline and diesel consumption via remote work and virtual meetings. PM Modi stated on May 10 that surging oil prices are causing huge pressure on foreign exchange outflows, impacting refiners.

Saudi Arabia cut June crude oil prices for Asia, preemptively responding to potential lower-priced exports from the UAE, which recently left OPEC. This intensifies competition, suggesting further price falls.

Portugal's Minister of State for Economy, João Rui Ferreira, expressed readiness to contribute to India's infrastructure goals, highlighting strong India-Portugal trade ties. He emphasized opportunities in renewable energy, IT, textiles, and advanced manufacturing, advocating for joint ventures and technology transfer to deepen economic collaboration.

A delegation from the World Bank and the ADB was in Amaravati this Monday to take stock of the citys ambitious development projects. Their focus was on evaluating ongoing infrastructure efforts while ensuring adherence to environmental regulations and promoting labor rights.