Crude Oil Prices Spike Above $90 as Indian Markets Open Weak

Indian markets opened lower on Monday, August 31, 2026, as geopolitical tensions and rising crude oil prices weighed on sentiment.

The Sensex shed over 250 points, while the Nifty 50 struggled to maintain key support levels amid global uncertainty.

The sharp rise in Brent crude oil prices has climbed above $90 per barrel, causing a major importer of crude oil like India to face significant pressure from sustained high oil prices.

This can lead to inflation and hit the profit margins of industries that rely heavily on oil or its by-products, such as automobile manufacturers and paint companies.