Stocks fall, oil prices jump
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The EIA said oil output would decline by 50k b/d YoY in 2026 to 13.37m b/d. Meanwhile, the European Commission is proposing a ban on refined product imports made from Russian crude oil.
The international benchmark Brent crude oil price is expected to fall to about $60 per barrel by the end of the year and average about $59 per barrel in
The Indian rupee weakened to 86.20 per dollar due to rising crude oil prices following Israeli strikes on Iran, but closed at 86.08/$1 after likely RBI intervention. Brent crude surged to $75 per barrel,