Oil options sellers in the US said to hold key to prices in India
Mumbai: India’s energy markets would take pricing cues from crude-oil options sellers on the US-based ICE Brent OilNSE -1.70 % Complex this week amid mounting concerns over global energy costs in the aftermath of the latest US-Iranian standoff, especially at a time of tepid economic growth.
Brent active futures contract has risen almost 15 per cent over the past 23 sessions through January 3, driven in part by expectations of a trade deal between the US and China. Geopolitical tensions between the US and Iran caused prices to climb further after American forces last week killed top Iranian military general Qasem Soleimani, increasing the risk premium on crude oil.
