Crude Oil Price Today (13 March): Crude oil prices dipped Friday morning after the U.S. issued a 30-day license for countries to purchase stranded Russian oil, easing immediate supply concerns. This follows a U.S. announcement to release 172 million barrels from its Strategic Petroleum Reserve as part of a coordinated effort with the IEA to stabilize global energy markets amid ongoing tensions in the region.
The Indian rupee hit an all-time low of 92.36 against the US dollar on Thursday, later recovering slightly to close at 92.19. Energy price retreats offered some relief, while central bank intervention was observed between 92.20 and 92.36, according to traders. Analysts suggest further weakness could occur if these levels are breached.
Sebi is proposing easier ways for legal heirs to claim securities. The regulator wants to simplify paperwork and procedures when an investor passes away. Higher limits for simplified documentation are suggested. Straight-through processing will be introduced for small claims. This aims to speed up the return of assets to survivors. The market has grown, and current limits need updating.
Morgan Stanley and Cliffwater have capped withdrawals from their private credit funds as investors sought to redeem more than allowed. This move highlights growing concerns over loan quality, particularly for software companies impacted by AI. The $1.8 trillion private credit market faces additional pressure from scrutiny over illiquid loan valuations.
The Reserve Bank of India wants details on overseas rupee derivative trades. Foreign banks operating in India are resisting this move. They cite difficulties in accessing offshore deal information and jurisdictional concerns. The RBI aims for better market visibility to manage rupee volatility. This proposal could impact how international financial institutions operate within India.
Indian markets continued their downward trend on Thursday. Several companies saw significant news. BofA Securities invested in Kaynes Technologies. GAIL assured uninterrupted gas supply to Bengaluru. South Indian Bank launched EPF payment services. DCM Shriram approved renewable energy investment. TVS Motor launched a new electric scooter. Tata Steel moved court over a GST demand.
Innovision’s IPO has been extended to March 17 after 32% subscription, reflecting weak investor interest; the price band was revised lower, while revenue growth is strong but margins remain thin.
Large bank capital requirements will fall slightly under revised drafts of sweeping bank capital rules, Federal Reserve Vice Chair for Supervision Michelle Bowman said Thursday, in a major victory for Wall Street lenders that had faced capital hikes under previous drafts.
Hazel Infra, the promoter entity of shipbuilder Swan Defence and Heavy Industries, is looking to part sell their holding in the company through the offer for sale (OFS) route next week, people aware of the development said on Thursday.
Oil prices soared Thursday, briefly trading above $100, and stock markets extended losses as fresh attacks against Gulf energy targets offset the release of crude reserves by major economies.
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