India Stayed Shut While Crude Ran To $107. Tuesday Opens Into It.
Brent climbed about 2.75% to near $107.48 after Saudi Arabia shut a key pipeline and Oman-hosted talks were postponed. Traders priced roughly 86% odds of a US rate hike on Wednesday. Gold eased near $4,340 and bitcoin near $76,700. Indian exchanges were closed for Ganesh Chaturthi.
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Nictick — educational context
India imports close to 88% of its crude, so a sustained move above $100 widens the import bill and pressures the rupee. With NSE and BSE shut on Monday, the full global move lands at Tuesday's open. Gold and crypto are trading the Fed. Oil is trading supply headlines.