Oil Prices Slide as Global Tensions Persist

Global oil prices fell on Monday, with Brent crude slipping to around USD 101 per barrel. This decline comes despite fresh attacks claimed by the Houthis on Saudi Arabia's capital, Riyadh, and an Aramco facility in Yanbu.

Ponmudi R, CEO of Enrich Money, stated that 'Indian equity markets are likely to open on a flat note' due to the stability in oil prices. The GIFT Nifty was trading at around 23,347.50, with Ponmudi noting that 'a sustained move above this level would open the path toward the 23,500-23,600 resistance zone.'

Devarsh Vakil of HSL Prime Research also predicted a flat to mildly negative opening for Indian markets amid concerns over higher US tariffs and the worsening geopolitical situation in the Russia, Ukraine war.