The US has surged to become the world’s top oil exporter, surpassing Saudi Arabia and Russia. This significant shift, driven by robust domestic production and strategic reserve releases, marks a dramatic reversal from past dependence. Disruptions in the Middle East and sanctions on Russia have reshaped global energy dynamics, granting the US new geopolitical leverage.
At the IPO price of $135 a share, SpaceX commands a market valuation of around $1.75 trillion, placing it among the most valuable publicly traded companies globally despite not yet turning profitable.
The Indian rupee strengthened significantly on Friday, gaining 65 paise to trade at 95.20 against the US dollar. This surge was propelled by a drop in global crude oil prices and positive signals from US President Trump regarding a potential Iran deal. A weaker dollar and buoyant domestic stock markets further bolstered the rupee’s recovery.
SpaceX is poised for a historic Wall Street debut, aiming to raise $75 billion and achieve a valuation of nearly $1.8 trillion. The company, now encompassing rocket launches, satellite internet, and AI, has seen significant revenue growth but reported a net loss. Institutional investors are showing strong demand for the offering.
Stock market recommendations: HDFC Bank, and NBCC are the stocks that Bajaj Broking Research recommends buying on June 12, 2026. The brokerage also shares views on Nifty and Bank Nifty:
Government has restricted industrial, commercial, and institutional users from buying petrol and diesel at retail fuel stations. This move aims to curb abnormal demand growth, particularly in diesel, driven by price differences between retail and bulk sales. The order, effective for up to 90 days, ensures equitable fuel availability for ordinary consumers.
Oil prices dropped below $90 per barrel as US President Donald Trump announced a framework agreement with Iran, signaling an end to the conflict and the expected reopening of the Strait of Hormuz. This development follows a week of heightened tensions and Iran’s earlier threat to close the vital shipping lane, which had previously kept
