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Oil prices rise on report US considering military options to break Iran deadlock

April 30 (Reuters) – Oil prices rose on Thursday on a report the U.S. is ‌considering potential military action against Iran to break the deadlock in negotiations to end the war, increasing concerns of more supply disruptions to already curtailed Middle East exports. Brent crude futures for June rose $5.27, or 4.5%, to $123.30 a barrel as of 0347 GMT after gaining 6.1% in the previous session. The June contract, which ​has increased for a ninth day, expires on Thursday and the more active July contract was at $113.10, up $2.66, or 2.4%, ​after gaining 5.8% in the previous session.

US Defense Secretary faces withering questions about Iran in first congressional appearance since war began

WASHINGTON, April 30, 2026 (AP) — Making his first appearance before Congress since the Trump administration went to war against Iran, Defense Secretary Pete Hegseth faced withering questioning Wednesday from skeptical Democrats over a costly conflict being waged without congressional approval. The war has cost $25 billion so far, according to Pentagon numbers presented to the House Armed Services Committee during a contentious hearing ostensibly focused on the administration’s 2027 military budget proposal. It would boost defense spending to a historic $1.5 trillion. While Republicans focused on the details of military budgeting and voiced support for the Iran operation, Democrats

Stock markets dive in early trade as oil prices surge above USD 120 per barrel

Mumbai, Apr 30 (PTI) Benchmark indices Sensex and Nifty slumped in early trade on Thursday amid a sharp spike in crude oil prices, weak global trends and foreign fund outflows. The 30-share BSE Sensex tumbled 821.79 points to 76,674.57 in early trade. The 50-share NSE Nifty dived 287.3 points to 23,890.35. From the 30-Sensex firms, InterGlobe Aviation, Eternal, UltraTech Cement, Mahindra & Mahindra, Axis Bank and Adani Ports were among the biggest laggards. Bajaj Finance, Bajaj Finserv, Tech Mahindra, Infosys and Power Grid were the gainers. Brent crude, the global oil benchmark, traded 4.08 per cent higher at USD 122.8

Rupee falls 32 paise to all-time low of 95.20 against US dollar

Mumbai, Apr 30 (PTI) The rupee depreciated 32 paise to an all-time low of 95.20 against the US dollar in early trade on Thursday, weighed down by elevated Brent crude oil prices, hovering around USD 122 per barrel, and strong American currency. Forex traders said the USD/INR pair may see further downside, as rising crude oil prices are likely to sharply impact India’s import costs, while concerns over potential wider conflict in West Asia are fuelling investor anxiety. Meanwhile, the US dollar added to gains after the US FED Reserve kept rates unchanged. Safe-haven demand was also boosted by another

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