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Oil hits $114 peak; India markets crash as Iran war disrupts Gulf supplies
Reportado por IA Imagem gerada por IA
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.
Oil prices are falling on hopes for an end to the war with Iran while the US stock market holds near its records. Brent crude dropped 3.2 percent to $97.98 per barrel.
Reportado por IA
Indian benchmark indices Sensex and Nifty closed nearly 6% higher for the week, snapping a six-week losing streak after a ceasefire between the US and Iran. Both indices rose 1.2% on Friday. Investors adopted a risk-on approach amid reduced volatility.
Asian shares were mixed as investors remained cautious ahead of the Federal Reserve's interest rate decision. Heightened tensions between Japan and China weighed on sentiment. Japan and Australia called for calm following a Chinese military aircraft's radar lock on Japanese jets.