International oil prices declined on Monday, with Brent crude trading near $103 a barrel, as markets weighed the possibility of increased Russian supply. US President Donald Trump said Russia and Ukraine had agreed to stop attacks on each other’s energy infrastructure, although uncertainty remained over the status and implementation of the proposed arrangement.

A proposed halt to attacks on Russian and Ukrainian energy facilities remained uncertain on Monday.

Asian stock markets showed a mixed trend on Monday as investors prepared for corporate earnings announcements and assessed geopolitical developments. Some regional indices declined, while others posted gains, reflecting different responses to energy prices and the outlook for global growth.

Indian equity markets are expected to open higher on Friday, October 9, after a sharp sell-off pushed benchmark indices to multi-month lows in the previous session. GIFT Nifty futures indicated a potentially positive start, with the Nifty 50 having closed Thursday at 22,231.80, its lowest level in 18 months.

International crude prices rose sharply on Thursday as renewed attacks on vessels in and around the Gulf heightened concerns over energy supplies. Brent crude settled at approximately $104.28 per barrel after rising around 4.1%, while disruptions to shipping through the Strait of Hormuz continued to influence market sentiment.

The Indian rupee weakened to Rs.96.78 against the US dollar on Thursday, reflecting pressure from foreign portfolio outflows, elevated global bond yields and higher crude prices.

Indian equity benchmarks opened lower on Thursday, October 8, extending the previous session’s decline. The Nifty 50 fell 0.23% to 22,545.85, while the Sensex was down 0.24% at 72,455.17 in early trade.

Gold remained close to elevated levels in domestic markets on Thursday. The 24-carat gold rate was around Rs.1,49,560 per 10 grams, while silver was trading at approximately Rs.2,49,900 per kg. Internationally, COMEX gold was around $4,180.80 an ounce.

Crude oil prices moved higher on Thursday as attacks on shipping in the Gulf and Strait of Hormuz increased concerns over the security of Middle East energy supplies. Brent crude rose around 1.3% to $101.53 a barrel, while US West Texas Intermediate crude gained around 1.3% to $89.39.

The Reserve Bank of India has raised its benchmark repo rate by 25 basis points to 5.5%, marking its first rate increase in nearly four years. The decision was taken unanimously by the six-member Monetary Policy Committee, which also shifted its policy stance from neutral to calibrated tightening.