Oil prices continued their sharp rise toward $100 per barrel on the eighth day of the Israel-US-Iran conflict, heightening fears of supply disruptions via the Strait of Hormuz. Building on last week's surges amid initial strikes, the escalation is fueling global market volatility, with Indian equities facing elevated inflation risks from oil import dependence.
The Israel-US-Iran conflict, now in its eighth day, has propelled Brent crude 8% higher to above $90 per barrel—up from around $71 at the week's start—edging toward $100. This follows multi-month highs triggered by initial US and Israeli strikes reported late last month.
Threats to the Strait of Hormuz persist, with analysts warning of a potential geopolitical premium that could drive prices to $150 if disruptions prolong. Energy and defense stocks are rallying, while travel and transport sectors suffer. Indian markets, reliant on Middle East imports, grapple with inflation pressures and margin squeezes.
Amid broader turbulence—including a surprise February payrolls drop and sticky inflation—AI demand has steadied tech stocks like NVIDIA, Broadcom, and Marvell. Geopolitical risks continue to dominate sentiment.
