17 April,2026 01:42 PM IST | Mumbai | mid-day online correspondent
Representational image. File pic
Amid key geopolitical developments, international crude oil benchmarks declined in Friday trade on hopes of easing tensions in West Asia following reports of a ceasefire between Israel and Lebanon.
Brent crude futures fell to USD 97.99 per barrel in early trade, while US West Texas Intermediate (WTI) declined to USD 92.91.
In the previous session, the global benchmark settled around 5 per cent higher at USD 99.39. Similarly, US WTI finished over 2 per cent higher at USD 93.32.
Meanwhile, on the domestic Multi Commodity Exchange (MCX), crude oil declined as much as 2.6 per cent to Rs 8,625, as per IANS.
Oil prices eased after markets reacted positively to the US President's announcement of a 10-day ceasefire between Israel and Lebanon. Trump also said Tehran had offered to refrain from possessing nuclear weapons for more than 20 years.
While posting on social media platform Truth Social, Trump wrote, "I hope Hezbollah acts nicely and well during this important period of time. It will be a GREAT moment for them if they do. No more killing. We must finally have PEACE! Thank you for your attention to this matter."
Earlier, Trump, while speaking to the media, had also said, "We will see how things unfold, but I believe we are very close to a deal with Iran."
Recovering in Friday's early trade after the previous session's losses, Indian benchmark indices Sensex and Nifty climbed as renewed optimism surrounded the progress in restarting US-Iran negotiations. Easing global tensions helped stabilise investor sentiment.
Amid the positive trend in global markets, fresh foreign fund inflows also added to the markets' optimism.
The 30-share BSE Sensex jumped 619 points to 78,730.32 in early trade, whereas the 50-share NSE Nifty climbed 169.65 points to 24,400.95.
Among the 30-share Sensex firms, ITC, Adani Ports, Maruti, Trent, Power Grid and Hindustan Unilever were among the major winners.
HCL Tech, Tata Steel, Bajaj Finance and ICICI Bank were among the laggards.
On Thursday, the Sensex declined 122.56 points or 0.16 per cent to settle at 77,988.68. The Nifty dropped 34.55 points or 0.14 per cent to end at 24,196.75.
(With ANI inputs)
