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Oil prices surge as violence flares in Strait of Hormuz | Oil and Gas News
Brent crude rises nearly 6 percent as soaring tensions in waterway push ceasefire to the brink.
Published On 5 May 2026
Oil prices have risen sharply as violence in the Strait of Hormuz cast doubt over the fragile ceasefire between the United States and Iran.
Brent crude, the primary benchmark for oil prices worldwide, rose by nearly 6 percent on Monday to $114.44 a barrel.
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list of 4 itemsend of listBrent futures eased somewhat on Tuesday morning, trading at $113.54 as of 02:00 GMT.
The latest surge in prices came after the US military said it had destroyed six of Iran’s small boats in response to Iranian attacks on commercial vessels in the waterway, and the United Arab Emirates reported coming under attack from Iranian missiles and drones.
An Iranian military source cited by the official IRNA news agency denied that US forces had sunk several Iranian boats, branding the US claim “false”.
The market is pricing oil higher as it factors in the risk of “more oil infrastructure damage and the likelihood that the Strait of Hormuz will be shut beyond the timeline that the Trump administration has laid out,” said June Goh, a senior oil market analyst at Sparta in Singapore.
Despite US President Donald Trump’s announcement on Monday that the United States military would “guide” commercial vessels through the critical strait, shipping companies have been hesitant to transit the waterway amid persistent safety concerns.
While the US military reported that two US-flagged merchant ships crossed the strait in the hours after Trump announced “Project Freedom”, there have yet to be any signs of a substantial resumption of maritime traffic in the region.
On Monday, the head of the International Transport Workers’ Federation (ITF) said that ships should not be asked to cross the strait “without a full guarantee of safety”.
“Freedom of navigation must be restored in full accordance with international law, but it must be done in a way that is coordinated, transparent and puts seafarers’ safety first,” ITF General Secretary Stephen Cotton told Al Jazeera, adding that there was “little clarity” about how the operation would “provide safe evacuation, nor assurance from Iran that transit will be guaranteed”.
“Until we have those assurances, we are calling on shipowners and flag states not to treat this announcement as a green light,” Cotton said.
“These workers have already endured weeks of fear, uncertainty and hardship. They must not now be put in harm’s way.”
According to the International Maritime Organization (IMO), up to 20,000 seafarers remain stranded on some 2,000 vessels in the Strait of Hormuz. The IMO has said that there was “no precedent for the stranding of so many seafarers in the modern age”.
The United Nations, meanwhile, has called for freedom of navigation in the strait, saying the closure of the waterway is “impeding the delivery of oil, gas, fertiliser, and other critical commodities” and “strangling the global economy”.
Brent prices have risen more than 50 percent since the start of the war in late February, amid an estimated daily production shortfall of 14.5 million barrels.
Even if Washington and Tehran reach a deal to end the war, oil prices are likely to remain elevated for some time due to the backlog of unloaded cargo, damaged regional infrastructure, and the need to clear Iranian mines, according to analysts.
Goh, the analyst at Sparta, said she expected prices to rise further as countries dip into their energy supplies.
“As more OECD inventory reports are published showing significant drawdown rates, we should see an even more bullish trend for the Brent price,” Goh said.
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Bagmane REIT opens today for public subscription at ₹95 to ₹100 price band
Blackstone-backed Bagmane Prime Office REIT CEO, Richard Hugh Andrew speaks during the press conference Taj Mahal Palace, in Mumbai on Thursday. | Photo Credit: ANI
Bagmane REIT will open today for public subscription at a price band of ₹95 to ₹100. Bagmane REIT is raising ₹2,390 crore by issuing fresh units, while selling unitholder (Blackstone) will be offloading units worth up to ₹1,015 crore via offer-for-sale.
The proceeds from the fresh issue will be primarily used to fund acquisitions and strengthen the portfolio.
As part of IPO, the Company on Monday raised ₹1,360 crore from anchor investors. The anchor round included marquee institutions like SBI Pension, SBI Life, White Oak, Quant MF, UTI MF, Kotak MF, Edelweiss MF, Tata AIG, Kotak Life, Max Life and more. As per the circular updated on the stock exchanges, Bagmane Prime Office REIT has allotted 11,49,74,850 units to anchor investors at ₹100 a unit.
Bagmane Prime Office REIT has a portfolio of six grade A+ business parks spread across Bengaluru’s key micro-markets, including the Outer Ring Road (ORR) and the Secondary Business District (SBD). The portfolio has a total area of 20.3 million square feet, with a leasable area of 19.6 million square feet.
As of December 2025, the portfolio reported a committed occupancy of 98.8%, among the highest for listed office REITs in India, reflecting strong demand for premium office assets. Its tenant base includes global technology giants such as Google, Amazon, Nvidia, and Samsung.
Bagmane Prime Office will be the 6th REIT to be listed in India. These include Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India Real Estate Trust, Nexus Select Trust and Knowledge Realty Trust. Blackstone has backed five out of the six REITs, making it the most influential investor in India’s REIT space. It is one of the leading global investment firms and has a huge exposure in the Indian real estate market.
The Book Running Lead Managers for the offer are JM Financial Ltd, Kotak Mahindra Capital Company Ltd Axis Capital Ltd, IIFL Capital Services Ltd, SBI Capital Markets Ltd, 360 ONE WAM Ltd and HDFC Bank Limited.
SBI Securities views
Competitive Strength:
• High‐quality Grade A+ office portfolio concentrated in ORR and SBD City, Bengaluru, among the best‐performing office micro‐markets in India.
• One of the highest occupancies among Indian office REITs, with 98.8% committed occupancy and a long WALE of 7.4 years, providing strong cash‐flow visibility.
• Strong and diversified tenant base, dominated by leading global MNCs and GCCs, including several Fortune 500 companies.
• High share of built‐to‐suit (BTS) assets, supporting long‐term tenant retention and stable rental income.
Risks
All portfolio assets are entirely concentrated in Bengaluru. Any slowdown or adverse developments in the Bengaluru commercial real estate market may adversely affect occupancy levels, rentals and business performance.
• It has a concentrated tenant base, with the top 10 tenants contributing 63.0% of Gross Contracted Rentals and a dominant exposure to foreign MNCs (98.7%) and GCCs (88.5%) for the month ended Dec’25. Any downsizing or early exit by these tenants could adversely impact rental income and cash flows.
• Tenant leases across the portfolio are subject to the risk of non‐renewal, early termination, default or delays in tenant replacement, which may lead to vacancies and lower rental income.
• The tenant mix is largely exposed to technology‐led sectors, including IT, GCCs, semiconductors and e‐commerce. Any prolonged slowdown in these sectors could impact leasing demand.
• Under‐construction assets such as office space, hotels and solar projects, any delay in construction, cost overruns or regulatory approvals may affect cash flows and returns.
Published on May 5, 2026
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Dc Vs Csk Live Score: Half of Delhi team returned to the pavilion on the score of 69, captain Akshar was out – Dc Vs Csk Ipl Live Score: Delhi Capitals Vs Chennai Super Kings Today Match Scorecard Updates
08:25 PM, 05-May-2026
DC vs CSK Live Score: Half of Delhi team out
Gurjapaneet Singh gave the fifth blow to Delhi by dismissing captain Akshar Patel. Delhi has lost five wickets in 69 runs. Akshar was out after scoring two runs on six balls.08:18 PM, 05-May-2026
DC vs CSK Live Score: Nitish Rana out
Delhi’s innings against CSK has faltered and the team has lost four wickets. Noor made Karun Nair his victim who was out after scoring 15 runs in 13 balls with the help of two fours.08:09 PM, 05-May-2026
DC vs CSK Live Score: Third blow to Delhi
Delhi Capitals has suffered a third blow in the form of Karun Nair. Noor Ahmed made Karun Nair his victim who was out after scoring 13 runs with the help of two fours in 13 balls.07:55 PM, 05-May-2026
DC vs CSK Live Score: Rahul returned to the pavilion
Delhi Capitals has suffered a second setback in the powerplay itself. Akil Hussain showed the way to the pavilion to KL Rahul who was out after scoring 12 runs in 13 balls with the help of two fours.07:48 PM, 05-May-2026
DC vs CSK Live Score: First blow to Delhi
Mukesh Chaudhary has given the first blow to Delhi Capitals by dismissing Pathum Nissanka. Nissanka was out after scoring 19 runs in 15 balls with the help of three fours and a six.07:32 PM, 05-May-2026
DC vs CSK Live Score: Delhi’s innings starts
Delhi Capitals’ innings has started against CSK. KL Rahul has come out to open the innings for Delhi with Pathum Nissanka.07:24 PM, 05-May-2026
DC vs CSK Live Score: Playing-11 of both the teams
CSK: Sanju Samson (wicketkeeper), Ruturaj Gaikwad (captain), Urvil Patel, Karthik Sharma, Dewald Brewis, Jamie Overton, Akil Hussain, Noor Ahmed, Anshul Kamboj, Mukesh Chaudhary, Gurjapaneet Singh.Impact Sub: Shivam Dubey, Prashant Veer, Matthew Short, Akash Madhwal, Sarfaraz Khan.
Delhi Capitals: KL Rahul (wicketkeeper), Pathum Nissanka, Karun Nair, Tristan Stubbs, Nitish Rana, Axar Patel (captain), Ashutosh Sharma, Mitchell Starc, Kuldeep Yadav, Lungi Ngidi, T. Natarajan.
Impact Sub: Vipraj Nigam, Sameer Rizvi, Abhishek Porel, Aaqib Nabi Dar, David Miller.
07:02 PM, 05-May-2026
DC vs CSK Live Score: Delhi won the toss
Delhi Capitals captain Akshar Patel has won the toss and decided to bat first against Chennai Super Kings. Fast bowler Lungi Ngidi has returned for Delhi, who could not play the last few matches due to injury. Ngidi has come in the playing-11 in place of Kyle Jamieson. Akil Hussain and Gurjapneet Singh have returned to the CSK team.06:43 PM, 05-May-2026
DC vs CSK Live Score: Lungi Ngidi fit
Delhi Capitals bowling coach Munaf Patel had said on Monday that Lungi Ngidi is ready to return to the field after recovering from the head injury suffered in the home match against Punjab Kings on April 25. Ngidi was immediately taken to hospital by ambulance after falling on his head while trying to take a catch.06:41 PM, 05-May-2026
DC vs CSK Live Score: What is the update on Dhoni
Chennai Super Kings (CSK) bowling coach Eric Simmons had said that veteran Mahendra Singh Dhoni has not come with the team for the IPL match against Delhi Capitals, but his health is continuously improving. Dhoni has not been able to play a single match this season due to calf injury.Indian markets to open cautiously; Gift Nifty signals gap-down amid oil surge
Analysts highlight fragile global cues, inflation risks and capped upside, though FPI inflows and election outcomes offer some support. | Photo Credit: VIVEK BENDRE
Indian equity markets are likely to open on a cautious note on Tuesday amid the fresh escalation of the Iran-US war. Gift Nifty at 24,035 signals a gap-down opening of over 150 points.
Hariprasad K, a SEBI-registered Research Analyst and Founder of Livelong Wealth, said global cues remain fragile. “The US markets saw sharp selling pressure, with the Dow correcting significantly as crude oil surged on renewed geopolitical concerns around the Strait of Hormuz. “Elevated oil prices, still holding above the $100 mark, continue to pose a macro risk for India, given its import dependence. Sustained strength in crude could weigh on inflation expectations and corporate margins, keeping risk appetite in check,” said Hariprasad.
According to Ponmudi R, CEO of Enrich Money, while the outcome of recent state assembly elections and fresh data indicating foreign portfolio investors have turned net buyers of domestic equities to offer some measure of support, the broader mood remains one of restraint. Geopolitical uncertainty and prevailing global risk aversion continue to dominate sentiment, limiting the scope for a sustained upside in the near term.
Derivative trading also signals a cautious note.
Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities, said from a derivatives standpoint, PCR near 0.61 suggests a cautious-to-bearish undertone, while aggressive call writing at 24,200–24,300 continues to cap upside, and the Put base at 24,000–23,800 reinforces support. Meanwhile, India VIX, which has been sustaining near 18, indicates a controlled volatility environment, supporting range-bound price action rather than trending moves.
“Structurally, until the index decisively breaks above the 24,300 resistance zone, rallies are likely to face selling pressure, making a sell-on-rise strategy more favorable. A breakout on either side of the range will be crucial to trigger the next directional move.”
While major Asian-Pacific markets are closed today, those that opened, such as Taiwan, Vietnam and Australia, are down in early deals on Tuesday.
Published on May 5, 2026