Crude Oil Holds Above $87 as U.S.–Iran Tensions Keep Markets on Edge

Crude oil prices remain elevated, with Brent crude trading near $89.29/bbl, moving closer to the key $90/bbl mark as hopes of a near-term U.S.–Iran resolution fade. Oil prices jumped around 5% on Monday, while continued uncertainty over U.S.–Iran negotiations and the Strait of Hormuz is keeping geopolitical and supply risks elevated. Market SnapshotBrent Crude: $89.29/bbl (+1.79%) USD/INR: ₹95.44 (+0.15%) Key Highlights Brent remains firm after Monday’s sharp rally, with the $90/bbl level now in focus. Fading hopes of a quick U.S.–Iran resolution continue to support the geopolitical risk premium. The Strait of Hormuz remains a key supply-side trigger for global crude markets. Higher crude combined with a weaker rupee could increase import and replacement costs for Indian polymer buyers. PolyMart Perspective Watch crude direction: A move towards or above $90/bbl could strengthen cost support for polymer feedstocks. Track currency movement: Higher crude with a weaker rupee may increase landed costs for Indian buyers. Buying strategy: Focus on need-based buying and avoid heavy inventory stocking until crude and geopolitical trends become clearer. PolyMart™ – Procure with Purpose. Disclaimer:PolyMart does not offer guarantees regarding the accuracy, reliability, or completeness of the information provided on its platform. Users are advised to independently verify any data before relying on it for decision-making purposes.