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JPMorgan Chase CEO Jamie Dimon has warned that the ongoing war in Iran could trigger oil and commodity price shocks, keeping inflation elevated and pu.

Petrol and diesel prices in Mumbai on April 28, 2026, saw a slight rise in petrol while diesel remained unchanged. Petrol is at Rs 103.54 per litre, up by Rs 0.04, while diesel stands steady at Rs 90.03 per litre.

India's imports of crude oil from Russia have dropped from the highs seen in March when the supply disruptions from the Middle East caused by the US-I.

Silver futures, maturing on May 5, 2026, opened lower. It started the trading session at Rs 2,40,490 against the previous close of Rs 2,41,824, a drop of Rs 1,334 or 0.55 per cent.

Gold price prediction today: Any upside in gold prices is likely to be capped by gains in crude oil prices, says Praveen Singh, Head Currencies and Co.

The Middle East conflict has already been rattling global oil flows, draining supplies, tightening reserves and pushing crude prices higher across mar.

In the precious metals segment, gold remained largely steady as traders evaluated ongoing diplomatic efforts between the U.S. and Iran to reach a negotiated settlement to the prolonged conflict.

Oil prices continued their rally on Tuesday, extending gains from the previous session as market sentiment remained cautious due to stalled peace effo.

Oil prices surged Tuesday as hopes for a U.S.-Iran war resolution dimmed, keeping the vital Strait of Hormuz largely closed and impacting global energy supplies. Analysts predict continued price hikes, with some forecasting Brent crude could reach $150 per barrel if disruptions persist, underscoring significant economic risks.

Crude prices have been highly volatile in recent days due to ongoing conflict, will petrol, diesel prices be hiked? Check city-wise rate list