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Commodities

Indian Markets Tumble Amid Geopolitical Strain and Soaring Oil Prices

Guavy AI Editorial Team
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Oil
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Indian financial markets stumbled at the start of the week as tensions in West Asia escalated and global oil prices surged. Brent Crude prices reached new peaks, with a 10% increase over the last week, hovering around USD 96.50.

The US conducted direct strikes on Iranian oil tankers, adding to the volatility. OPEC+ maintained output levels, but this did little to alleviate investor apprehensions as crude prices continued to rise.

According to Anindya Banerjee of Kotak Securities, Brent Crude's surge is partly due to intensifying geopolitical tensions in West Asia and concerns over potential US interest rate adjustments.

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