$99.46 Brent crude rises after Iran strikes US bases in Jordan and Gulf
Oil prices surged to nearly $100 a barrel following Iranian missile attacks on American assets and warnings from the US Secretary of State. Six major IPOs are listed in India today, including Manipal Payment and Identity Solutions.
International crude oil prices climbed sharply on Wednesday as tensions between Washington and Tehran escalated. Iran's Revolutionary Guards launched ballistic missiles at two U.S. destroyers and a military base in Jordan's Al Azraq region, claiming to have destroyed twenty vessels attempting to pass through the Strait of Hormuz. Jordanian air defenses intercepted eighteen of the incoming projectiles. Meanwhile, U.S. Secretary of State Marco Rubio warned that America will continue striking Iranian oil tankers for every attack on American naval assets. Brent crude futures reached $99.49 a barrel by 01:00 GMT, representing a gain of over $1 from previous sessions. West Texas Intermediate crude stood at $94.63 per barrel. These movements occurred despite hopes for de-escalation fading as six months of conflict have intensified. In separate markets activity in India, Manipal Payment and Identity Solutions opened for subscription on September 9. The company plans to raise a total of ₹805 crore through a fresh issue and an offer for sale to expand capacity. Its promoter stake will drop from 62% to 53%. Rentomojo also lists today with a target raise of ₹1,255.57 crore, while Karamtara Engineering seeks ₹875 crore. Grey market premiums remain high for several offerings.
