Asian Stocks Advance, Crude Oil Pares Declines: Markets Wrap

Asian Stocks Advance, Crude Oil Pares Declines: Markets Wrap

(Bloomberg) -- Asian stocks rebounded from Monday’s selloff and crude oil fell, as President Donald Trump signaled the Iran war may be nearing an end, boosting investor sentiment.

RIL, ONGC and other oil stocks fall up to 3% as crude logs sharpest intraday reversal

Indian oil stocks like Reliance, ONGC, and Oil India saw significant drops as Brent crude plummeted over $20 from its peak, falling below $90. This sharp decline followed US President Trump's optimistic comments about a swift resolution to the Iran conflict, easing supply disruption fears. The market reacted to potential impacts on India's import bill and inflation.