November 12, 2026: Giving a shot in the arm to Indian markets, international oil benchmark Brent crude fell below $90 a barrel on Tuesday for the first time since August as US President Donald Trump signalled that the West Asia war may be coming to a close.

Brent, the price gauge for around 80% of global crude, hit a low of $89.03 per barrel in morning trade in London.

Crude oil is a big burden on India’s imports bill, with the country sourcing 85% of its requirements from overseas. Falling prices could translate into lower transport costs and lower prices of goods and services, thus improving the purchasing power of households.

The fall in crude prices will likely bring cheers to equities, bonds and the rupee, and if the price sustains it may prompt RBI to rethink its pace in the battle against inflation.

On Monday, the Sensex added 107.25 points, or 0.13%, to close at 81,106.65, while the Nifty50 closed 58.25 points, or 0.23%, higher at 25,044.65. On Tuesday, the markets remained closed for Diwali-Balipratipada.

The rupee has weakened nearly 4% against the dollar this year, despite gaining some ground in recent weeks.

(Source: New Indian Express)