Crude oil futures gain as markets monitor US-Iran developments

Crude oil futures gain as markets monitor US-Iran developments


Crude oil futures traded higher on Thursday morning as markets continued to focus on US-Iran tensions with market players concerned that any military action could pose a risk to oil supplies.

At 9.56 am on Thursday, April Brent oil futures were at $69.76, up by 0.52 per cent, and March crude oil futures on WTI were at $65.03, up by 0.62 per cent. On Multi Commodity Exchange (MCX), February crude oil futures were trading at ₹5,888 during the initial hour against the previous close of ₹5,896, down by 0.14 per cent, while March futures were trading at ₹5,901 against the previous close of ₹5,907, down by 0.10 per cent.

US President Donald Trump warned Iran of a possible military action, if it fails to agree to a deal with US.

In a post on the social media platform Truth Social, he said: “I have just finished meeting with Prime Minister Netanyahu, of Israel, and various of his Representatives. It was a very good meeting, the tremendous relationship between our two Countries continues. There was nothing definitive reached other than I insisted that negotiations with Iran continue to see whether or not a Deal can be consummated. If it can, I let the Prime Minister know that will be a preference. If it cannot, we will just have to see what the outcome will be. Last time Iran decided that they were better off not making a Deal, and they were hit with Midnight Hammer — That did not work well for them. Hopefully this time they will be more reasonable and responsible.”

Meanwhile, the latest data showed an increase in US crude oil inventories for the week ending February 6. According to the US EIA (Energy Information Administration), US commercial crude oil inventories increased by 8.5 million barrels for the week ending February 6.

Total motor gasoline inventories increased by 1.2 million barrels from last week, and distillate fuel inventories decreased by 2.7 million barrels last week.

Total products supplied in the US over the last four-week period averaged 20.8 million barrels per day, 2.4 per cent above the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.3 million barrels per day, 0.7 per cent below the same period last year. Distillate fuel product supplied averaged 4.1 million barrels per day over the past four weeks, down by 3.2 per cent from the same period last year. Jet fuel product supplied was down 2.3 per cent compared with the same four-week period last year.

Organization of the Petroleum Exporting Countries’ (OPEC) February oil market report said global oil demand growth forecast for 2026 remains at a healthy 1.4 million barrels a day, y-o-y, unchanged from the previous month’s assessment. Oil demand growth is expected to be supported by strong air travel demand and healthy road mobility, including on-road diesel and trucking, as well as healthy industrial, construction, and agricultural activities in non-OECD countries.

It said that global oil demand growth in 2027 is forecast to grow by a healthy 1.3 million barrels a day, year-on-year, unchanged from the previous month’s assessment.

February natural gas futures were trading at ₹292.80 on MCX during the initial hour of trading on Thursday against the previous close of ₹288.50, up by 1.49 per cent.

On the National Commodity and Derivatives Exchange (NCDEX), March jeera contracts were trading at ₹23,080 during the initial hour against the previous close of ₹22,995, up by 0.37 per cent.

March castorseed futures were trading at ₹6,464 on NCDEX during the initial hour against the previous close of ₹6,445, up by 0.29 per cent.

Published on February 12, 2026



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शेयर बाजार को लगी नजर; 425 अंक टूटा सेंसेक्स, निफ्टी में भी भूचाल

शेयर बाजार को लगी नजर; 425 अंक टूटा सेंसेक्स, निफ्टी में भी भूचाल


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Stock Market Today: भारतीय शेयर मार्केट में गुरुवार, 12 फरवरी वाले कारोबारी दिन की शुरुआत निगेटिव रही. प्रमुख बेंचमॉर्क इंडेक्स बीएसई सेंसेक्स और एनएसई निफ्टी 50 लाल निशान पर ट्रेड करते हुए ओपन हुए.

30 शेयरों वाला बीएसई सेंसेक्स इंडेक्स 265.21 अंक या 0.31 प्रतिशत फिसल गया. दिन की शुरुआत सेंसेक्स ने 83,968.43 के लेवल पर की है. वहीं, एनएसई निफ्टी 50 में भी गिरावट देखने को मिल रही है. निफ्टी 50  47.15 अंक या 0.18 फीसदी टूटकर 25,906.70 के लेवल पर ओपन हुआ था.

सुबह करीब 9:23 बजे तक, सेंसेक्स 381 अंक की गिरावट के साथ 83,851 अंक पर कारोबार कर रहा था. वहीं निफ्टी 50 107 अंक टूट गई थी और 25,846 के लेवल पर ट्रेड कर रही थी.

बीएसई के टॉप गेनर और लूजर

कारोबारी दिन के दौरान एनटीपीसी, आईसीआईसीआई बैंक, एक्सिस बैंक, आईटीसी और पावरग्रिड टॉप गेनर रहे थे. वहीं टॉप लूजर की लिस्ट में टेक महिंद्रा, एचसीएलटेक, टीसीएस, एटरनल और इंडिगो रहे थे.

बुधवार को कैसा रहा था मार्केट?

भारतीय शेयर मार्केट में बुधवार, 11 फरवरी का कारोबारी दिन मिला-जुला रहा था. प्रमुख बेंचमार्क इंडेक्स बीएसई सेंसेक्स लाल निशान और एनएसई निफ्टी 50 हरे निशान पर ट्रेड करते हुए बंद हुए थे. सेंसेक्स 40.28 अंक या 0.05 प्रतिशत की गिरावट के साथ 84,233.64 अंक तो वहीं, एनएसई निफ्टी 50 18.70 अंक या 0.07 प्रतिशत उछलकर 25,953.85 के लेवल पर कारोबारी दिन की समाप्ति की थी.

बीएसई बास्केट से एसबीआई एन, मारुति, इंडिगो, ट्रेंट और रिलायंस टॉप गेनर थे. टॉप लूजर की बात करें तो टीसीएस, एचसीएल टेक, एटरनल, आईटीसी और एक्सिस बैंक रहे थे. निफ्टी 100, निफ्टी बैंक, निफ्टी एफएमसीजी, निफ्टी मिडकैप 100, निफ्टी स्मॉलकैप 100 और निफ्टी ऑटो के शेयरों में तेजी देखने को मिली थी.

वहीं निफ्टी आईटी के शेयरों में गिरावट थी. गुरुवार के कारोबारी दिन बीएसई बास्केट से 14 शेयर हरे निशान पर बंद हुए थे और 16 शेयरों में गिरावट दर्ज की गई थी.

डिस्क्लेमर: (यहां मुहैया जानकारी सिर्फ़ सूचना हेतु दी जा रही है. यहां बताना जरूरी है कि मार्केट में निवेश बाजार जोखिमों के अधीन है. निवेशक के तौर पर पैसा लगाने से पहले हमेशा एक्सपर्ट से सलाह लें. ABPLive.com की तरफ से किसी को भी पैसा लगाने की यहां कभी भी सलाह नहीं दी जाती है.)

यह भी पढ़ें:  इस कंपनी में मॉर्गन स्टेनली और गोल्डमैन सैक्स की एंट्री; हुई बड़ी ब्लॉक डील , चेक करें कहीं आपने भी तो नहीं लगाया दांव

 



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Revised CPI may give RBI reason to keep interest rates on hold

Revised CPI may give RBI reason to keep interest rates on hold


The overhaul comes amid a scrutiny of RBI’s inflation forecasting model after it consistently overestimated price pressures last year, potentially contributing to a hawkish policy stance.
| Photo Credit:
FRANCIS MASCARENHAS

India will publish inflation figures based on a new index on Thursday, which analysts say may show elevated price pressures in the economy, giving the central bank reason to keep interest rates on hold. 

The new consumer price index from the Ministry of Statistics and Programme Implementation, due Thursday at 4 p.m., will reflect changes in spending patterns since the last overhaul done more than a decade ago. The data release will include figures for 2025 based on the index weights, making comparisons easier.

The weighting of volatile items such as food has been reduced to about 36.8 per cent from nearly half previously, and new spending categories like rentals for rural housing and online shopping, have been added. The base year has also been changed to 2024 from 2012.

The changes could lift the January inflation reading to about 2.77 per cent, according to the median estimate of 32 economists in a Bloomberg survey. Inflation was 1.33 per cent in December based on the previous CPI series. 

Although inflation remains well below the Reserve Bank of India’s 4 per cent target, the new figures could prompt the central bank to hold off on any further rate cuts and push up bond yields further. Last week, Governor Sanjay Malhotra kept the benchmark interest rate unchanged and indicated a prolonged pause going forward. 

The overhaul comes amid a scrutiny of the central bank’s inflation forecasting model after it consistently overestimated price pressures last year, potentially contributing to a hawkish policy stance. Officials have also been debating whether the central bank should target an inflation measure that excludes food, since the high weighting causes more volatility in the headline numbers. 

The new series will help the RBI to “make its monetary policy actions much more effective and transmission quicker,” said Amol Agrawal, who teaches economics at the National Institute of Securities Markets. “It minimises, if not eliminates policy errors that the central bank may have suffered occasionally from under the older series.” 

The revamp is closely watched by financial market participants as it could alter expectations for interest rates at a time when foreign flows are highly sensitive to policy signals. A higher inflation trajectory may keep borrowing costs elevated, influencing bond yields, equity valuations and both portfolio and longer-term foreign direct investment decisions.

Saurabh Garg, secretary in the Ministry of Statistics and Programme Implementation, said Wednesday the revised CPI will better reflect India’s economic reality following a rapid expansion in consumer spending over the years. Rising incomes means Indians are spending less on food and more on services and housing.  

The weight of core inflation, which excludes food and fuel, will rise to nearly 58 per cent in the new CPI series from 47.3 per cent previously, according to calculations by DBS Group Holdings Ltd. Core inflation is typically more responsive to monetary policy action. 

The government will also publish gross domestic product data on February 27 based on the new consumer spending patterns, which analysts say may show a sharp revision higher in the size of the economy. That could put India on track to overtake Japan as the world’s fourth-largest economy. 

Horse-cart fares

The overhaul in the CPI means prices for antiquated items such as video cassette recorders, radios and horse-cart fares will make way for airfares, online subscriptions and e-commerce sales. The index will now include electricity prices, housing costs in rural areas and standardised norms for gold and silver jewelery.

Free food items distributed under government welfare programmes will be excluded. The government also plans to publish more detailed CPI data, potentially down to the item level, incorporating inputs from states and sectors.

The new CPI series arrives as the bond market grapples with record debt supply from federal and state governments. Yields on the benchmark 10-year bond surged to their highest level in over a year last week after the central bank held rates and refrained from announcing any further bond purchase plans.

“The market is expecting a slight upward near-term bias in the new CPI of around 30–50 basis points,” said Suyash Choudhary, chief investment officer for fixed income at Bandhan AMC Ltd. “The RBI is generally expected to be on long hold with focus on proactive liquidity management.”

More stories like this are available on bloomberg.com

Published on February 12, 2026



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US President Trump hails trade deal with India as 'historic'

US President Trump hails trade deal with India as 'historic'


US President Donald Trump
| Photo Credit:
REUTERS

US President Donald Trump has hailed the trade deal with India as “historic” and said America will increase its coal exports dramatically to the country and to others with which it has trade agreements.

“And under our leadership, we’re becoming a massive energy exporter. In just the past few months, we’ve made historic trade deals with Japan, Korea, India and others to increase our coal exports dramatically,” Trump said Wednesday during an event titled ‘Champion of Coal’.

“We’re now exporting coal all over the world, and the quality of our coal is supposed to be…the finest anywhere in the world,” he said.

Last week, the US and India announced they have reached a framework for an interim agreement on trade, under which New Delhi will eliminate or reduce tariffs on all American industrial goods, a wide range of food and agricultural products, as well as purchase $500 billion of US products over the next five years.

A joint statement issued by the two countries on Friday said they have reached a framework “regarding reciprocal and mutually beneficial trade.” It said that India “intends to purchase $500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next five years.” It added that the framework reaffirms the countries’ commitment to the broader US-India Bilateral Trade Agreement (BTA) negotiations, launched by President Trump and Prime Minister Narendra Modi on February 13, 2025, which will include additional market access commitments and support more resilient supply chains.

Published on February 12, 2026



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Vedanta moves Madras HC as TNPCB rejects its ‘Green Copper’ proposal at Thoothukudi Sterlite plant

Vedanta moves Madras HC as TNPCB rejects its ‘Green Copper’ proposal at Thoothukudi Sterlite plant


Vedanta submitted an application to the TNPCB on January 9, seeking the CTO, but the board rejected it on January 27

The Tamil Nadu Pollution Control Board (TNPCB) has refused to issue a ‘consent to operate’ (CTO) to multinational business conglomerate Vedanta Ltd for establishing a ‘green copper’ plant on the Thoothukudi Sterlite plant premises, which has remained non-functional since 2018. The company has, therefore, approached the Madras High Court with a plea to quash the rejection order.

Chief Justice Manindra Mohan Shrivastava and Justice G Arul Murugan on Wednesday (February 11, 2026) directed Additional Advocate General (AAG) J Ravindran to get instructions by February 26 regarding the constitution of an expert committee to study the possibility of permitting the ‘green copper’ facility. Vedanta submitted an application to the TNPCB on January 9, seeking the CTO, but the board rejected it on January 27.

Assailing the rejection order, senior counsel Satish Parasaran, assisted by Rahul Balaji, contended that the application had been rejected in an arbitrary manner without providing advance notice or an opportunity for hearing to his client. “This reflects a pre-determined and prejudicial approach towards the petitioner and therefore, the rejection order is ex-facie arbitrary, illegal, and untenable,” he argued.

In order to ensure a fair and impartial adjudication of Vedanta’s applications/proposal for establishing the ‘green copper’ facility, the counsel urged the Bench to order the constitution of a court-monitored multidisciplinary expert committee, comprising representatives of the State government as well as the Centre, along with independent experts in relevant fields, to examine the proposal independently, comprehensively, and scientifically.

Until the disposal of its main writ petition, Vedanta also sought an interim direction to the TNPCB to permit the petitioner to have limited and conditional access to the Sterlite Copper facility in Thoothukudi so that it could carry out preparatory and operational activities for the scientific assessment. The interim activities could also be supervised, monitored, and controlled by a court-appointed committee, it said.

On the other hand, opposing the writ petition filed by Vedanta, the AAG said: “They are trying to pour old wine into a new bottle and call it green copper.” He said, the company ought to have gone on statutory appeal against the board’s order instead of filing a writ petition. He also stated that protection of environment was more important than the economic aspects, which the company was stressing upon.

However, Parasaran said only a committee comprising experts from the Union Ministry of Environment and Forests, the Central Pollution Control Board, and other such bodies would be able to give independent thought to the proposal. “If the experts say that the industry should perish, let it perish. But if they say it can be revived, let it be revived. Let the TNPCB not approach the issue with a stone wall,” he added.

Vedanta’s affidavit

In its affidavit, Vedanta contended that the TNPCB’s rejection order does not reflect any genuine statutory evaluation of the ‘green copper’ proposal, but rests on a fundamentally “flawed” premise that past regulatory actions and earlier judicial proceedings operate as an erroneous assumption that past operations foreclose even the consideration of a re-engineered and environmentally superior facility.

The company claimed that the TNPCB had failed to take note the critical national as well as global demand for copper, its status as a strategic resource, and the growing trend of resource nationalism. It said, the green copper’ facility would help augment domestic copper production, while prioritising sustainability since the eco-friendly process would be distinct from previous copper-smelting processes.

Vedanta also pointed out that it had filed a writ petition in January this year seeking a direction to the State government to consider its ‘green copper’ proposal, which would utilise an environmentally superior process designed to be an exemplar of sustainable and responsible industry. While passing interim orders in that petition, the court had permitted the company to submit applications to statutory authorities.

Therefore, Vedanta had applied to the TNPCB for the issuance of a CTO on January 9 but it was rejected on January 27, forcing the group to file a fresh writ petition challenging the rejection order.

What is ‘green copper’?

Explaining the benefits of ‘green copper,’ the company told the court that the term refers to copper produced with a significantly lower carbon footprint in comparison with conventional smelting processes. The reduction would be achieved by maximising the use of recycled copper as input. “Using recycled copper minimises the need for copper concentrate processing, which was the primary source of slag generation in smelting operation,” it said.

Apart from the projected reduction of 15 per cent in slag generation, approximately 40 per cent of reduction was expected in hazardous waste generation, too. Through the utilisation of 30 per cent recycled input, the proposed green copper plant was projected to achieve 34 per cent reduction in carbon footprint because less fossil fuel would be consumed in the energy-intensive smelting and converting processes, Vedanta claimed.

“Furthermore, round-the-clock renewable energy will be utilised for hybrid operations. The suspension of the phosphoric acid plant and adoption of advanced air and water management technologies will further minimise environmental impact and enable the company to produce copper cathode with less than 0.9 kg of CO₂ emissions per kg of copper, i.e., about 50 per cent less than the global average,” its affidavit read.

Published on February 11, 2026



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Despite big start-up push, J&K funds only 18 ventures in three years

Despite big start-up push, J&K funds only 18 ventures in three years


No units were established under other central and Union Territory schemes such as the Youth Start-Up Loan Scheme (YSSL), Seed Capital Fund Scheme (SCFS), and the National Minorities Development and Finance Corporation (NMDFC) in Jammu and Kashmir during the last three years
| Photo Credit:
Getty Images

 

Srinagar  

The Jammu and Kashmir government has said only 18 start-ups have received seed capital support in the Union Territory over the past three financial years, with funding released only in the current fiscal under the Jammu and Kashmir Entrepreneurship Development Institute (JKEDI).

The government on Tuesday informed the Legislative Assembly said that no seed capital was provided to start-ups in 2023–24 and 2024–25 under JKEDI or any other government-supported mechanism. Funding was released only in 2025–26, when ₹3.6 crore was sanctioned in favour of 18 start-ups, at ₹20 lakh per start-up.

The total seed capital released during the period stands at ₹9 crore, calculated at ₹5 lakh per start-up, the government said in reply to a un-starred question by MLA Shabir Ahmad Kullay, adding that all 18 start-ups were funded in the current financial year. Officials said the sanctioned assistance was aimed at early-stage ventures with scalable business models, though details of sector-wise distribution were not shared.

The government also informed the House that no units were established under other central and Union Territory schemes such as the Youth Start-Up Loan Scheme (YSSL), Seed Capital Fund Scheme (SCFS), and the National Minorities Development and Finance Corporation (NMDFC) in Jammu and Kashmir during the last three years.

The disclosure comes at a time when the administration has been projecting entrepreneurship and start-ups as key drivers of employment generation in the Union Territory. 

Significant gap

However, the figures highlight a significant gap between policy intent and on-ground implementation, particularly in terms of financial support to new ventures.

Start-up founders and industry observers have repeatedly flagged delays in funding, procedural bottlenecks, and limited outreach of existing schemes as major hurdles for aspiring entrepreneurs in the region.

The government, however, maintains that efforts are underway to strengthen the start-up ecosystem and expand institutional support in the coming years.

Officials said the administration was reviewing existing startup schemes to streamline approval processes and improve disbursal timelines. 

“Steps were being taken  to improve coordination between financial institutions and implementing agencies to ensure wider coverage and more effective support for early-stage entrepreneurs in the region”, said the officials. 

Published on February 11, 2026



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