Oil-linked Indian stocks climb up to 4% as Brent slips below $76 a barrel

Brent crude futures slid 1.8% to $75.71 a barrel on June 24, their lowest level since February 27, while WTI fell 1.5% to $72.13, the weakest since March 3. The drop followed a U.S.-Iran ceasefire deal and signs shipping through the Strait of Hormuz is normalising, including three very large crude carriers transiting, alongside a 60-day U.S. sanctions waiver for Iran that boosted expectations Iranian crude could return to the market within weeks. U.S. crude inventories fell by 765,000 barrels, according to API data, but the drawdown did little to offset expectations of looser supply conditions.