INSUBCONTINENT EXCLUSIVE:
Oil prices climbed over 3% in Asian trading on Monday (12), touching fresh intraday highs after the United States and China agreed to ease
tariffs for a 90-day period, reviving hopes of a trade breakthrough.Brent crude rose as high as $66.30 a barrel, while US West Texas
Intermediate (WTI) hit $63.41.The rally in crude was driven by a joint statement from Geneva, where both nations announced a temporary
The combined 145% US duties on most Chinese imports will be reduced to 30%, including the rate linked to fentanyl
The easing is effective from May 14.At the time of reporting, Brent crude was up 2.5% at $64.14 per barrel, while WTI was trading 2.7%
betting on a recovery in energy demand and industrial activity
Both benchmarks had logged gains of over 4% last week, marking their first weekly rise since mid-April.Meanwhile, Indian equity markets were
quick to react to the global mood shift
The Nifty Metal index surged up to 5%, with all 15 constituents trading in the green.The Nifty IT index jumped 5.4%, as stocks like Infosys,
HCLTech, Persistent Systems, Mphasis, Tech Mahindra and Wipro posted gains of up to 8%.The announcement follows earlier reports of
volumes.-With Agencies inputs
