Brent crude futures climbed to $115 a barrel, the highest price since June 2022, after eight consecutive sessions of gains. The rally is being driven by intensifying concerns over supply through the Strait of Hormuz, a critical chokepoint through which roughly 20% of the world's traded oil passes. A disruption or credible threat to flows through Hormuz is one of the fastest ways to move global oil prices, since alternative shipping routes add significant time and cost. At $115, crude is now well above levels that typically trigger demand destruction in major importing economies, including India, which is among the world's largest buyers of seaborne oil. Sustained prices at this level would push up fuel costs, widen trade deficits in oil-importing nations, and add fresh pressure on central banks already managing inflation. The key question now is whether physical supply is actually disrupted or whether this move is driven primarily by risk premiums building in the futures market.
Nayara Energy has reduced petrol prices by ₹5 per litre and diesel by ₹3 per litre after global crude costs fell on easing West Asia tensions and the reopening of a key maritime shipping route. The move raises pressure on state-owned fuel retailers to follow with their own price cuts.
Indian startups raised $5.2 billion across 501 deals in H1 2026, down 9% in value but up 7% in deal count year-on-year, per the Inc42 Indian Tech Startup Funding Report. The drop is driven by fewer mega-rounds, while AI funding surged 317% and growth-stage deal activity hit a multi-year high.
The BSE Sensex fell 893 points and the Nifty 50 shed 279 points on June 30, 2026, wiping out roughly Rs 6 lakh crore in investor wealth in a single session. Both indices dropped 1.16%, closing at 76,200.68 and 23,824.10 respectively.
Kotak Mahindra Bank shares fell nearly 3% to Rs 397.6 after CEO Ashok Vaswani announced plans to exit the bank. Investor concern now centres on succession timing and whether the bank's ongoing digital and deposit-growth strategy will stay on track.
