Stock Markets
Oil hits $114 peak; India markets crash as Iran war disrupts Gulf supplies
Rapporteret af AI Billede genereret af AI
Oil prices peaked above $114 per barrel on March 9 as the Iran war intensified, building on yesterday's surge past $110. Indian markets plunged amid fuel cost fears, while Asian governments rolled out measures to shield consumers from spiking prices.
Indian stock exchanges NSE and BSE will operate normally today despite celebrations for Gudi Padwa. There is no market holiday declared for the festival.
Rapporteret af AI
With Brent crude already past $100 due to prior Iranian attacks and Strait of Hormuz issues, escalating US-Iran tensions now raise worst-case fears of $200 per barrel oil prices. India's stock markets have plunged, hitting oil firms hardest, amid risks of wider deficits, rupee weakness, and inflation.