Oil prices have surged sharply in recent days, with some analysts warning that Brent crude could climb to $150 per barrel if the Strait of Hormuz remains closed for a prolonged period amid the escalating Iran–Israel conflict. After a sharp selloff last week, Indian equities may face further valuation pressure in the near term due to heightened volatility, analysts said.

Crude oil prices crossed the key psychological mark of $100 per barrel last week, the first time since Russia’s invasion of Ukraine in 2022. Despite attempts by the US administration to reassure markets, the conflict in the oil-rich Middle East continues to intensify.

Iran has warned that oil prices could surge to as high as $200 per barrel if the conflict escalates further. Mojtaba Khamenei, Iran’s new supreme leader and son of Ayatollah Ali Khamenei, described the Strait of Hormuz as a strategic “tool of pressure” that must remain shut during the conflict. In a message aired on state television, he also warned that US military bases across the region could face attacks as Iran seeks retaliation for casualties from the conflict.

Oil prices have risen amid growing expectations that the Strait of Hormuz may remain shut, disrupting global energy trade. The narrow 33-km waterway connecting the Persian Gulf and the Gulf of Oman carries more than 20% of the world’s oil and gas shipments, making it one of the most critical chokepoints in global energy markets.

What lies ahead for oil prices

Global crude oil prices could rise to $120 per barrel in the near term and potentially reach $150 per barrel if the war continues for over a month and geopolitical tensions remain elevated in West Asia, said Kayanat Chainwala, Assistant Vice President at Kotak Securities.

“Any prolonged disruption to this trade route will be bullish for crude oil and negative for other commodities, as it fuels inflation concerns and could delay interest rate cuts,” Chainwala said.
A report by Nuvama also noted that crude prices could climb to $150 per barrel if the Strait of Hormuz remains closed for four to eight weeks. However, such extreme price levels could eventually lead to demand destruction and trigger alternative supply responses.The report added that Asian economies are likely to bear the brunt of the disruption, as nearly 13 million barrels per day (mbpd) of oil shipments to countries including China, India, Japan and South Korea pass through the Strait of Hormuz.

Meanwhile, Systematix Institutional Equities said global crude markets have entered a phase of heightened volatility over the past two weeks, driven by the destruction of oil and gas assets in West Asia, which has added a strong geopolitical risk premium to prices.

“Tanker freight rates and insurance premiums for vessels passing through high-risk zones have also surged, significantly raising procurement costs,” the brokerage said.

How Indian stock markets may react

The Nifty 50 fell 5.3% last week as the Iran–Israel conflict, a weakening rupee, persistent FII outflows and concerns over fuel supply weighed on sentiment. While Systematix expects near-term volatility to impact valuations, it continues to prefer Reliance Industries, Petronet LNG, Deep Industries and Gulf Oil as long-term bets.

According to Vinod Nair, Head of Research at Geojit Investments, market direction in the coming weeks will largely depend on developments in the Iran conflict and the trajectory of crude prices, given their implications for inflation, corporate margins, the current account deficit and RBI policy flexibility.

“A firm dollar and higher US bond yields may keep FIIs selective and volatility elevated. Selective value opportunities may emerge in fundamentally resilient and domestically driven sectors, while energy-sensitive segments could remain under pressure if crude prices stay elevated,” he said.

He added that domestic institutional buying has provided some cushion, but a sustained market recovery would likely require clear signs of geopolitical de-escalation, stabilisation in crude prices and improved clarity on fuel supply dynamics.

Siddhartha Khemka, Head of Research – Wealth Management at Motilal Oswal Financial Services, said market volatility is likely to persist as geopolitical tensions disrupt the energy market and keep risk sentiment fragile.

“Indian equities have seen a sharp correction in 2026 amid heightened global uncertainty, resulting in significant erosion of market value across segments,” Khemka said.

The Nifty 50 has declined over 11% so far this year, while the Nifty Midcap and Smallcap indices are down around 10% each. In March alone, the Nifty has fallen about 8%, marking its steepest monthly decline since the pandemic-driven crash of March 2020.

On the currency front, the Indian rupee recently hit a record low of Rs 92.45 against the US dollar as rising energy prices and risk-off sentiment heightened concerns about India’s current account deficit, given the country imports nearly 88% of its crude oil requirements.

Elevated oil prices have also intensified concerns around inflationary pressures, widening external balances and pressure on corporate margins, prompting investors to trim equity exposure and shift towards safer assets.

“Rate-sensitive and cyclical sectors such as banking, financial services and automobiles have seen notable selling pressure,” Khemka added.

Looking ahead, markets are expected to remain highly sensitive to developments in the West Asia conflict, movements in crude oil prices and trends in foreign fund flows.

“Persistent foreign outflows and elevated oil prices could keep sentiment cautious, while any signs of easing geopolitical tensions may provide relief to markets,” he said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

CBS News has fired high-profile “60 Minutes” correspondent Scott Pelley amid debate about the direction of the show, which has been a mainstay of the network’s television lineup for decades.

“Your employment with CBS News is terminated for cause effective immediately,” Nick Bilton, the new executive producer of “60 Minutes,” wrote to Pelley in a letter seen by CNBC. It was not immediately clear when the letter was sent.

Pelley had previously said that Bari Weiss, the editor-in-chief of CBS News, was “murdering” “60 Minutes,” according to NBC News.

In a statement obtained by MS Now, Pelley said the network is attempting to “curry a moment of favor with the Trump administration.”

“The waste is heartbreaking,” Pelley wrote.

Skydance and Paramount merged last year, putting new leadership in charge of CBS and other Paramount properties including the storied film studio and more nascent streaming business. Paramount Skydance Chief Executive Officer David Ellison is now trying to merge Paramount with Warner Bros. Discovery, and he needs the Trump administration’s regulatory approval to complete the deal.

In 2024, then-presidential candidate Donald Trump sued “60 Minutes,” alleging the program deceptively edited an interview with his opponent, Kamala Harris. Paramount settled the lawsuit for $16 million, which irked some veteran “60 Minutes” employees, including Pelley. Another notable anchor, Anderson Cooper, announced he was leaving the show earlier this month.

“For my part, new management has instructed me to inject falsehoods and bias into a politically sensitive story,” Pelley said in his statement. “I’ve been told to include assertions that are unverified. To date, in every case, I have managed to ignore these instructions or refuse them.”

During a meeting on Monday, Pelley told Bilton he has “slender qualifications” for the role of executive producer of newsmagazine “60 Minutes,” according to the NBC News report.

Bilton is a former New York Times technology columnist and has made several documentaries for HBO and Netflix. Bilton replaced Tanya Simon as the show’s executive producer. Simon had spent more than two decades at “60 Minutes” before being ousted last week. In contrast, Bilton has no experience running a TV news show.

“The leadership of ’60 Minutes’ is no longer recognizable,” Pelley said in his statement. “The principles I hold dear are gone, and so I must leave as well.”

During an interview on May 28, Bilton told CNBC that he’s committed to demonstrating his hiring isn’t a political maneuver.

“I will prove it with the work,” Bilton said. “I’m dedicated to holding people in power to account.”

In a Tuesday editorial call with CBS, Weiss told staffers she is “only interested in working in a newsroom that is built on trust and mutual respect,” according to a transcript of the call obtained by CNBC.

“That foundation was broken on Monday, and despite our attempts to engage with Scott Pelley and to find a way back, unfortunately we weren’t able to do so, and so we had to part ways,” Weiss said. “We did not want that to happen, but that’s the path he chose.”

CBS News President Tom Cibrowski added on the call that the organization “will miss Scott very much.”

In a subsequent statement obtained by MS Now, Pelley disputed Weiss’ account of the situation and said “no constructive dialogue was allowed by the CBS executives at any point.”

Read the full statement from Pelley on his firing:

—CNBC’s Alex Sherman and Ryan Ruggiero contributed to this report.

This article was written by

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

An active lifestyle requires hydration, and it’s not just those moments during a workout each day. 

BODYARMOR Sports Drink, the leader in sports and active hydration, understands that concept more than most, which is why their latest innovation in the space, BODYARMOR FIT, has launched to give modern hydration to those everyday moments. 

Unlike its traditional sports drink, or their BODYARMOR Flash I.V., BODYARMOR FIT is a sparkling sports drink that molds together electrolytes, caffein, functional ingredients and zero sugar to reinforce the brand’s commitment to premium hydration and continued innovation to meet the fitness and active lifestyle of its consumers. 

CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM

Cincinnati Bengals quarterback Joe Burrow is among those consumers, and as an athlete partner of BODYARMOR, he’s supporting the BODYARMOR FIT launch with the “Fitness Never Rests” digital campaign.

The new hydration innovation is something Burrow believes in. 

KNICKS’ JALEN BRUNSON, LSU’S FLAU’JAE JOHNSON HELP BODYARMOR’S ‘CHOOSE BETTER’ CAMPAIGN BEFORE MARCH MADNESS

“BODYARMOR FIT is BODYARMOR’s take on modern hydration. It’s built for real life, when you’re moving through your day and staying active in different ways,” Burrow said in an exclusive statement to Fox Business. “It’s a sparkling sports drink with electrolytes, a little bit of caffeine, and ingredients that support metabolism. Whether I’m training, traveling, or just on the go, it fits into those in-between moments and has become a great addition to my routine. That’s really where the idea behind ‘Fitness Never Rests’ comes from. 

“For me, fitness isn’t just a workout, it’s a mindset that carries through the whole day. BODYARMOR FIT fits the way people live now, always moving, always doing something.”

Fox Business also got to speak with Sara Weaver, vice president of brand marketing at BODYARMOR, to discuss this new innovation and why she believes it was the “natural progression” for the brand in this space. 

“At BODYARMOR, we are always looking to modernize the space,” she explained. “We have a portfolio that addresses these different needs and occasions by consumers. …Consumers are looking for beverages that are feeling lighter, more refreshing. They fit into their active lifestyle throughout the day. Really here, hydration goes beyond just workouts, just that one hour of the day. It’s about how people fuel their entire day, and BODYARMOR FIT is intended to meet these shifts, fitting seamlessly into everything from work to travel, to social moments, to fill in the blank. It really sits in this intersection of sports drink and functional beverages.”

The beverage, which comes in five flavors – Mixed Berry, Tropical Passionfruit, Orange Mango, Citrus Grapefruit and Watermelon Lime – has 290 milligrams of electrolytes for hydration, while also featuring 60 milligrams of caffeine. 

“It was a very intentional choice,” Weaver said when asked about that balance of hydration and caffeine. “So, we deliver 290 milligrams of electrolytes for the hydration. We also have the combination of about 60 milligrams of caffeine, which we see as lightly caffeinated to give that extra boost, but not take you over the edge and you have a crash later. Ingredients like green tea extract and choline, which supports metabolic function. So, the combination of hydration and metabolism support in one seamless experience is a big part of what makes this product versatile and so different than what’s on the market today.”

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Weaver also called Burrow a “natural partner” when they approached him to be the launch athlete here because of his active mindset no matter if he’s on the field with the Bengals, or off it. 

“When we brought this to Joe and we asked him to be our feature with BODYARMOR FIT, he was totally aligned,” Weaver added. “Because his discipline and his performance really extends far past that one gameday, which really made him a natural partner. We’ve received lots of great feedback on the product with our athlete partners.”

Follow Fox News Digital’s sports coverage on X and subscribe to the Fox News Sports Huddle newsletter.

This article was written by

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for clients. To achieve this, we offer a comprehensive range of investment capabilities, as well as the highest levels of service. Overall, we manage $669.1 billion* on behalf of clients in 80 countries. In managing these assets, we employ over 1,000 investment professionals and provide client support from over 40 client relationship offices globally. The Aberdeen Standard Investments brand was created in connection with the merger of Aberdeen Asset Management PLC and Standard Life Plc on 14 August 2017 to form Standard Life Aberdeen plc.Follow us on our Thinking Aloud blog: https://www.aberdeenstandard.com/en-us/us/investor/insights-thinking-aloud*June 30, 2019

New Delhi: Manila-based multilateral funding Asian Development Bank (ADB) and Standard Chartered Bank have signed agreements to strengthen supply chain finance in India through risk-sharing arrangements covering both USD and rupee transactions.

The agreements include a risk participation arrangement structured through Gujarat International Finance Tec-City (GIFT City) to support US dollar-denominated transactions, and a partial guarantee facility agreement to support onshore rupee transactions, ADB said in a statement on Wednesday.

Together, the arrangements are intended to expand access to trade and supply chain finance for businesses operating in India and to support the continued flow of cross-border and domestic trade, it said.

The agreements were signed last week by ADB Vice-President Bhargav Dasgupta and Standard Chartered Bank’s India & South Asia Chief Executive Officer P D Singh.

Access to trade and supply chain finance remains a binding constraint for many businesses seeking to manage working capital, strengthen supply chain resilience, and participate in regional and global trade, it said.

The partnership extends ADB’s risk-sharing capacity into both offshore and onshore segments of the Indian market, addressing financing gaps that commercial provision alone has not been able to close, it said.
A key feature of this partnership is its focus on emerging and underserved segments of supply chain finance, particularly distributor financing, it said, adding that the collaboration represents ADB’s first engagement in this space within the market. By enabling risk participation in distributor finance transactions, the partnership aims to unlock working capital for downstream players — often small and medium-sized enterprises (SMEs) — that play a critical role in domestic supply chains, it said.

This partnership aligns with ADB’s strategic priority to promote inclusive economic growth and financial deepening across Asia and the Pacific, it added.

2026 ProCon Awards recognise construction projects across Leicestershire and Rutland

Entries for the 2026 ProCon Awards for the best new buildings and other construction projects in Leicestershire and Rutland close on July 8.

The award organisers at ProCon Leicestershire are urging building owners, developers, architects, surveyors and engineers to nominate projects before the closing date to be in with a chance of being finalists or even winners.

Entry is free and all the details are on the ProCon Leicestershire website at: procon-leicestershire.co.uk/procon-awards/2026

The 23rd annual ProCon Awards are backed by two corporate sponsors, Salus and Unique Window Systems. Finalists and winners will be celebrated at a ceremony on November 12 at Leicester City’s King Power Stadium. The Leicester Mercury’s sister title Business Live is the media partner.

There are eight categories, covering residential and non-residential schemes of various sizes, regeneration projects and the third year of the Rising Star category for those making a trailblazing start to their property and construction careers.

The full list is:

• Pam Allardice Rising Star of the Year, sponsored by Galliford Try
• Small Non-residential Scheme of the Year, sponsored by Merali Beedle
• Medium Non-residential Scheme of the Year, sponsored by Knights
• Large Non-residential Scheme of the Year, sponsored by Procure Partnerships Framework
• Small Residential Scheme of the Year
• Medium Residential Scheme of the Year
• Large Residential Scheme of the Year
• Regeneration Project of the Year

Umesh Desai, ProCon Leicestershire chair, said: “Anyone with a recently completed project they are proud of should take a look at which categories they could enter. It’s free to enter for any of the awards and shine a spotlight on you and your achievements.”

Stuart Power and Paul Meadows, directors at Salus (Building Control & Fire Safety Consultants), said: “We are proud to continue our support as a corporate sponsor of this outstanding celebration of our industry.

“The continued success of the ProCon Awards is a significant achievement, particularly in a challenging climate of regulatory change and evolving compliance requirements.

“This year is especially meaningful for Salus as we celebrate our transition to an employee-owned company — a milestone that secures our long-term future and ensures we remain fully independent as Building Control Approvers and Building Regulation and Fire Safety Consultants serving Leicestershire.

“We look forward to joining colleagues from across the sector to recognise and celebrate excellence within our industry.”

Sunil Patel, joint-managing director at Unique Window Systems, said: “Unique is currently celebrating our 20th anniversary and a belief in maintaining the highest standards in everything we do has been instrumental in our continued success.

“Our appreciation of the very real difference a commitment to excellence can make means we are only too happy to advocate this quality in others and our ongoing sponsorship of the ProCon Leicestershire Awards reflects that.

“Good luck to all those entering this year and thank you for making our region such a beacon of best practice for the built environment sector across the wider UK.”

• Companies still keen to attend the ceremony are welcome to join a reserve list. To do so, or to enquire about sponsorship opportunities, contact Allyson Jeffrey on 0116 278 1443 or via email: info@procon-leicestershire.co.uk

The objections from GWR are ‘extremely disappointing’ says Wales’ transport minister

The Welsh Government has criticised Great Western Railway after the rail operator expressed concerns about Transport for Wales’ plans to extend services between Bristol and west Wales.

Transport for Wales wants to run new services for passengers from either Milford Haven or Pembrokeshire to be able to travel straight to Bristol Temple Meads without changing at Cardiff as they currently have to.

But Great Western Railway (GWR), which already runs Cardiff to Bristol trains, said the proposals would have a “significant effect” on its revenue.

The Welsh Government minister with responsibility for transport, Mark Hooper, said it was “extremely disappointing” GWR would seek to “disrupt these plans to improve things for passengers on both sides of the Severn”.

In a document as part of the consultation process GWR says it worries the plans could affect train services in the Bristol area and were “likely to have a significant effect on GWR’s revenue income”.

It also said the new services are a “large risk” to UK Government money.

Transport for Wales (TfW) is owned by the Welsh Government.

Documents show TfW plans are for a service which is broadly for a two-hourly route with nine services each way per day.

Two will start from Cardiff in the morning but all the others will be through services between west Wales and Bristol.

All bar two of the through services will be achieved by combining the new Cardiff-Bristol portions with existing West Wales services at Cardiff Central and two weekday trains will be entirely new services between Cardiff and Carmarthen then extending to/from Milford Haven or Fishguard Harbour in place of existing services.

Between Cardiff Central and Bristol Temple Meads they will call at Newport, Severn Tunnel Junction, Filton Abbey Wood, and Stapleton Road.

One train each way on weekdays and Saturday will additionally call at Bristol Parkway.

West of Cardiff the calling pattern will vary but will typically include Carmarthen, Pembrey and Burry Port, Llanelli, Gowerton, Swansea, Neath, Port Talbot Parkway, and Bridgend with most services originating from, or extending to, Fishguard Harbour or Milford Haven calling at all stations.

The application says connectivity between west and south Wales and the Bristol area has “long been recognised as essential” for supporting economic growth in the wider region.

“The direct service is aligned with the government mission of supporting jobs, growth, and housing,” it says.

It says it will benefit people travelling not only to Bristol but to Bristol Airport.

The application says the plan would have an operational cost of £21.4m and total value of benefits of £27.9m.

However GWR say it has “grounds for concern and objects to its approval”. For our free daily briefing on the biggest issues facing the nation sign up to the Wales Matters newsletter here.

It says: “We do not believe that the application has been discussed sufficiently with either Network Rail or with the MetroWest funder to enable a cogent plan to be developed and therefore the full extent of these impacts is unknown at this point. We are also unclear how the services relate to other service enhancements on the line of route in question including the proposed Cardiff-Bristol stopping services and associated new stations proposed by the Burns review.

“Approval of the application may significantly affect the capability to implement these.”

The GWR objection also says it has questions about how the Severn Tunnel would cope given “known capacity constraint”.

“The key grounds for GWR’s objection include the likely impact on performance of GWR and other services in and around the Bristol area and further afield, understanding the assumptions being made in relation to use of infrastructure both now and in the future and the impact of these services on GWR (and DfT) revenues.

“There are no new markets served in this proposal with GWR already operating up to three trains per hour between Cardiff Central and Bristol. The application – and the commercial intentions underpinning it – should, we believe, be seen in this light”.

It says it believes “a two-car cross border service could lead to significant crowding issues on these particular trains that could be better and more cheaply managed through alternative provision”.

The Rail and Road Office will make a final decision.

Mark Hooper is the new deputy minister for transport. He said: “As a newly-elected government we are committed to working with Transport for Wales on improving connectivity for people across Wales and the borders as part of a modern integrated transport network.

“A new service connecting west Wales with Bristol would not only increase rail capacity on a very busy route but could boost economic growth in communities on the way.

“We will be working collaboratively to ensure that the UK Government’s recent commitment to delivering six new stations between Cardiff and Bristol leads to more services on the route.

“Therefore it’s extremely disappointing that Great Western Railway, which is a UK Government rail operator, would seek to disrupt these plans to improve things for passengers on both sides of the Severn.

“If Great Western Railway’s objection succeeds it would negatively impact tens of thousands who could benefit from this service.

“I will be writing to the UK Transport Minister to urgently ask for clarification and call for some common sense on this issue.”

GWR has been approached for comment.