Brent crude fell 0.2 percent to settle at $115.48 a barrel, while  US West Texas Intermediate crude ended 0.3 percent lower at $111.76. On Monday, both contracts had settled up more than 7 percent on the potential EU ban.

In Mumbai, the petrol price has risen to Rs 111.67 per litre, and diesel to Rs 95.85 per litre. Petrol and diesel prices, which had been on a freeze since November 4, 2021, due to polls in five states, were hiked by 80 paise per litre on Tuesday.

Stocks to watch: SGX Nifty50 futures were up 0.2 percent at 17,408 points as of 7:00 am on Wednesday which indicated a tepid start for Indian benchmark indices today. Stocks such as Asian Paints, Adani Ports, SBI, Infosys, TCS, HCL Technologies, Tata Coffee among others will be closely tracked today. Here is a list of stocks to watch out for in trade today:

Banks stocks helped drive up the gains, along with technology and retailer stocks in the US markets. Energy stocks fell on easing oil and bond yields continued to rise a day after Federal Reserve Chair Jerome Powell said the central bank was prepared to move more aggressively in raising interest rates in its fight against inflation if it needed to.