Nation
Global oil prices have surged past $100 a barrel amid escalating conflict in West Asia involving the United States, Israel and Iran. This marks the first time crude has crossed the $100 mark since Russia invaded Ukraine in 2022, raising fears of supply disruptions.
Iran has halted shipping in the Strait of Hormuz, a key route carrying nearly one-fifth of global oil supply.
Rising tensions and attacks on energy facilities have intensified concerns about global energy security. The shock rippled across financial markets, with India’s Sensex crashing nearly 2,500 points and Nifty50 falling over 750 points as investor panic spread worldwide.