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Related Articles
Oil & Energy
US Oil Update: Brent Hits Three-Week High as Peace Talks Stall
Oil prices gained on Monday with Brent hitting a near three-week high as stalled peace talks and a lengthening Strait of Hormuz closure tightened global supplies of crude.Front-month West Texas Intermediate crude futures added 0.6% to $94.95 per barrel, while Brent futures were up 0.9% to $106.25/bbl."Oil continues to grind higher as the Strait of Hormuz remains effectively closed, extending disruptions across the Middle East that continue to tighten the availability of critical commodities - from crude, fuel and gas to metals, fertilizers and petrochemicals," Saxo Bank analysts said."Brent crude trades at a three-week high as efforts to revive peace talks have stalled, with an Iranian proposal reportedly calling for nuclear negotiations to be postponed to a later stage."With Goldman Sachs and Eni sharply raising their forecasts, the market is now pricing in a long-term standoff over critical energy corridors.Goldman Sachs revised its fourth-quarter Brent outlook upward to $90 per barrel, rising from its previous $80 forecast and exceeding the current trading average of $88, analysts noted.Italian major Eni (E) cautioned that the market is underestimating the conflict's duration, hiking its 2026 Brent projection to $83.Last week marked a massive pivot in sentiment as the market looked more despondent over an imminent end to the conflict. Brent posted a 17% weekly gain and WTI surged over 13%.
Asia
Nippon Life India Asset Management's Profit Climbs in Fiscal Q4
Nippon Life India Asset Management (NSE:NAM-INDIA, BOM:540767) said its consolidated profit attributable to the owners rose to 3.85 billion Indian rupees in the fiscal fourth quarter from 2.99 billion rupees a year ago.Earnings per share for the quarter ended March 31 climbed to 5.93 rupees from 4.65 rupees a year earlier, according to a Monday filing.Revenue from operations increased year on year to 7.39 billion rupees from 5.67 billion rupees.Additionally, the board of the company recommended a final dividend of 12.50 rupees per share for fiscal year ended March 31.
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Research
RBC Cuts Price Target on Kinsale Capital Group to $375 From $385, Keeps Sector Perform Rating
Kinsale Capital Group (KNSL) has an average rating of hold and mean price target of $362.56, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
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