Currency Corner: Indian equities should remain uptrend despite Iraq oil crisis
 

Militant insurgency and violence in Iraq have put the brakes on the great Indian rally. Both WTI crude and Brent crude are trading at 10 month highs with the spread between these two benchmarks having widened to $7 per barrel. India is the world's fourth largest importer of oil and imports nearly 75 percent of its demand. Looking at the daily candlestick charts of the Western Texas Intermediate (WTI) June futures contract, we can already see that the market price is factoring in a risk premium for the Iraq geopolitical risks.

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