Crude oil seen at $70–80/bbl by May-end; Sunil Singhania flags market relief

Sunil Singhania, Founder, Abakkus Asset Manager, which manages $2.33 billion worth of funds as of February 28, 2026. said easing geopolitical tensions have brought relief to markets, with crude oil prices expected to decline further in the coming weeks.Reacting to the ceasefire signals, he said, “It’s a big relief… very few mornings in the past few weeks have looked so good,” while cautioning that the situation needs to be tracked as it evolves. He added that the reopening of the Strait of Hormuz and normalisation of oil and gas supply will remain key triggers for markets.

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Singhania expects crude prices to correct sharply from recent highs. “31st of May… we should see oil anywhere between $70 per barrel and $80 per barrel,” he said, pointing to improving supply conditions and easing geopolitical risk.
He noted that recent disruptions were largely driven by supply and logistics challenges rather than demand. Packaging costs, fuel availability, and transport constraints affected multiple sectors, while companies remained concerned about prolonged disruptions.Also Watch | ‘Main Hoon Na’ policy needed from RBI to support growth, says Nilesh Shah

On markets, he said sectors linked to economic activity, such as banking, infrastructure, and capital goods, could see near-term gains as sentiment improves. However, sustained upside will depend on the return of global investors, especially after continued foreign outflows.

Singhania added that India’s macro-outlook remains stable, with domestic investors maintaining allocations despite volatility. He believes improving liquidity, policy support, and recovery in consumption trends could support markets once geopolitical risks ease.

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