Global oil prices fell as the US signaled potential easing of sanctions on Iranian crude, easing Strait of Hormuz tensions. Brent dropped 3.39%, WTI 3.22%. Indian markets rebounded, while US equities closed slightly lower amid mixed global trading
Global oil prices eased slightly after the US allowed a 30-day waiver for countries to buy Russian oil already in transit. Brent and WTI declined marginally, while India assured adequate crude supplies through diversified sourcing and reduced dependence on the Strait of Hormuz route
IMF chief Kristalina Georgieva nominated US Treasury official Daniel Katz as first deputy managing director, pending board approval. He would succeed Gita Gopinath, who returned to Harvard after leaving the IMF.
On Wednesday, the US Treasury Department announced sanctions targeting about 200 companies and 80 individuals in third countries like China, Belgium, and Slovakia, who are accused of aiding Russia in procuring materials for its weapons program.
