Brent Crude Surpasses $100/Barrel as Indian Markets Plummet

The Indian equity markets closed under pressure on September 9 as Brent crude oil prices crossed USD 100 per barrel, raising concerns over inflation and economic growth.

The Nifty 50 index fell to a three-month low, closing at 23,431.50, down 203.60 points or 0.86 percent from the previous day's close.

Vinod Nair, Head of Research at Geojit Investments, said markets are increasingly factoring in a prolonged Middle East conflict and continued hostilities, which could keep crude oil prices elevated in the near term.

Higher energy costs pose risks to both economic activity and price stability, making it difficult for major central banks to achieve a balance between growth and inflation.