Kotak Neo commodities analyst Anindya Banerjee said India will keep prioritising crude purchases based on the lowest landed cost, with U.S. Secretary of State Marco Rubio's visit renewing focus on imports of Russian oil. Brent futures were already at $110, and spot prices running $10 to $15 above futures, plus freight of $10 to $15, could push landed costs above $120; he sees Brent at $100 to $120 in the near term. He said RBI measures introduced in October had kept the rupee within a narrow range despite about USD 11 billion in foreign outflows over eight weeks. Key triggers ahead include developments in West Asia and the U.S. election on November 3. Government and oil companies have so far absorbed the impact of higher crude costs, with no official signal of an imminent rise in petrol and diesel prices.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on calcuttanews.net ↗
Keywords
Indiaenergy securityoil prices
Open a keyword to see other news on the same topic.
Related tickers and likely impact
VJC
▼ Likely negativeVietjet Air
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Travel & Leisure |
| Industry | Airlines |
| Market cap | 98,444 bn VND |
| P/E | 45.2 |
| P/B | 3.74 |
| Close on 10/21/2026 | 128.00 |
| Change that session | +0.47% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Rubio India visit puts energy security in focus as crude costs rise amid global disruptions : Kotak Neo Banerjee
Anindya Banerjee of Kotak Neo said India will keep prioritizing crude with the lowest landed cost, as U.S. Secretary of State Marco Rubio's visit highlights New Delhi's Russian oil imports. Brent futures are at $110, spot premiums of $10 to $15 and freight of $10 to $15 push the landed cost above $120, and he sees a $100 to $120 near-term range with an upward bias over two to three weeks. RBI measures have kept the rupee within a narrow 94 to 96 range despite foreign institutional outflows of nearly $11 billion over eight weeks. Key triggers ahead are developments in West Asia and the U.S. election on November 3. Government and oil companies have so far absorbed the impact of higher crude costs, with no official indication of an immediate increase in petrol and diesel prices.
- Why Rubio is visiting Reliance oil refinery in India , the world largest – Ghanamma . com
U.S. Secretary of State Marco Rubio will fly to Jamnagar in Gujarat after meetings in Mumbai to visit Reliance Industries' complex, the world's largest single-site refinery with a capacity of 1.4 million barrels per day. The article says Reliance sits at the centre of Washington's efforts to punish Russian energy buyers and contain oil prices amid the war on Iran, as well as rising U.S. diesel costs ahead of the midterm elections. Rubio said he would talk with Reliance about refining more Venezuelan crude, and Kpler estimates Reliance will account for roughly 350,000 to 370,000 barrels per day of October intake. Diesel is Reliance's biggest export, while only about 31% of Americans approve of President Trump's performance, the lowest of his two terms according to a Reuters/Ipsos survey.
- Top news of the day on October 20 , 2026
U.S. Secretary of State Marco Rubio met External Affairs Minister S. Jaishankar in Mumbai to discuss energy security and defence cooperation, during a two-day visit as the U.S. and India aim to finalise a trade deal. The Cockroach Janta Party (CJP) asked the Delhi High Court for an urgent hearing on extending the judicial custody of its leaders Ashutosh Ranka and Saurav Das. JNU Students' Union ended a 17-day hunger strike after the university agreed to revoke the rustication of student office-bearers and withdraw FIRs against students. Union Home Minister Amit Shah accused the AAP government in Punjab of failing to contain the drug menace while visiting families of those who died in related incidents. Gujarat has proposed gifting 500 square metres of a disputed Vadodara plot to Yusuf Pathan, with the proposal due before the civic standing committee on October 23.
- Oil prices approach Iran-war highs as soaring tanker rates trigger a second energy squeeze
- State of Emergency to allow use of dyed diesel
- Protect people , not prices : How Asean+3 can build resilience to energy shocks
Brent crude averaged about 60% higher in September 2026 than in February 2026 amid the Middle East conflict, fueling inflation and cost-of-living pressures across the ASEAN+3 region (ASEAN members plus China, Japan and South Korea). The article argues for targeted support for the most vulnerable rather than broad price subsidies, which distort price signals, weaken incentives to conserve energy and are hard to withdraw; Thailand's energy subsidies in FY2024 cost an estimated 0.6% of GDP. Economies have taken varied routes: Singapore offers targeted cash support while keeping market-based fuel pricing, Hong Kong let temporary measures expire as scheduled, and Malaysia is moving from blanket fuel subsidies toward a mix of market prices, targeted subsidies and wider social assistance.
Related markets
Latest news
- Bank Profits Surge
The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold Prices Continue to Fall
On the morning of 23/10, domestic gold prices kept falling, with SJC bar prices varying by seller and the premium over world gold widening. Công ty TNHH Vàng bạc đá quý Sài Gòn listed SJC bars at VND 139-142 million per tael (buy-sell), down VND 300,000; Phú Quý was at VND 138-141.8 million, down VND 500,000; and Mi Hồng at VND 140-141.5 million, down VND 800,000. Gold rings also fell by varying amounts, with DOJI at VND 138-142 million and Phú Quý at VND 138-141 million per tael. World gold dropped USD 129 to around USD 3,992 per ounce, equal to about VND 125.3 million per tael, leaving SJC bars about VND 16.7 million per tael above the world price. The State Bank's central rate was set at 25,627 VND/USD, down 5 dong, while Vietcombank quoted 25,660-26,040 VND/USD (buy-sell).
- Company Linked to Billionaire Pham Nhat Vuong Announces Major Good News
VEFAC (ticker VEF), a Vingroup subsidiary, posted Q3 net revenue of nearly VND 77 billion, up 67% year on year, but a gross loss of about VND 27 billion as cost of sales from its exhibition business exceeded revenue. Q3 profit rose mainly thanks to a gross gain of about VND 65 billion from transferring some schools in a project to a partner, while financial income reached over VND 388 billion, mostly from loan and investment income. For the first nine months of 2026, after-tax profit was nearly VND 865 billion, down about 94% from VND 15,418 billion in the same period of 2025, as the prior year included large gains from transferring part of the Vinhomes Global Gate project. As of 30/9/2026, total assets stood at over VND 31,905 billion, up 36% from the start of the year, while total liabilities exceeded VND 24,364 billion, with short-term customer advances rising from VND 411 billion to over VND 8,373 billion.
- Lotte and Phat Dat Officially Break Ground on VND 60,000 Billion Mega Project in Thu Thiem 'Golden Land'
A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
- International Business : Global stocks nosedive as Meta dents AI optimism
Global stocks retreated as tech earnings failed to ease concerns about the AI outlook, with MSCI's All-World index set for its largest daily fall in two weeks, down 0.4 per cent. Meta beat third-quarter revenue expectations, but its plan to issue non-voting stock revived worries about its mounting capital commitments, and a New Mexico judge ordered it to pay a $25 billion penalty in a data privacy case. Brent crude rose nearly 3% to $112 a barrel, near a five-month high, after more Houthi attacks in Saudi Arabia raised supply risks. Investors moved into government bonds, pushing the US 10-year yield down to 5.05%, below France's for the first time in 13 years, while French yields have climbed above 5% amid concerns over social unrest and debt. The France-Germany 10-year spread reached 177.7 basis points, its widest since 2011, while gold fell 1.8% to $4,070 an ounce.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.