Punjab, Sept. 14 -- Trading resumed on Tuesday after Monday's Ganesh Chaturthi holiday. The Sensex and Nifty fell last week as crude surged, and the energy picture has since become worse rather than better.
What changed over the weekend
Saudi Arabia shut its East-West oil pipeline on Friday after a drone strike. That line was the kingdom's way of exporting crude without passing through the Strait of Hormuz, which Iran continues to constrain.
For a market already pricing Brent above $100, losing the workaround to the chokepoint is not an incremental development.
The three pressures, updated
June's goods trade deficit was a record $30.43 billion, with imports up 31% to $70.84 billion. That number is a direct function of the energy bill....