Crude Oil Prices Surge Amid Middle East Conflict, Indian Markets Tumble
Global crude oil prices have surged by 10%, crossing the $80 per barrel mark, as escalating tensions in the Middle East disrupt supply chains and fuel uncertainty.
Analysts warn that prices could climb to $100 per barrel if the conflict involving Iran, the U.S., and Israel intensifies further.
The ripple effect has hit Indian markets hard.
The BSE Sensex plunged by nearly 2,700 points to 78,543, while the Nifty 50 dropped over 500 points, slipping below 24,659. Investors are facing steep losses as geopolitical instability weighs on sentiment.
Meanwhile, gold and silver prices have soared as investors flock to safe‑haven assets.
Gold jumped by Rs 5,000 per 10 grams to reach Rs 1,70,309, while silver surged by Rs 9,000 per kg to Rs 3,25,100. Experts say the surge reflects heightened risk aversion and global market volatility.
The ongoing crisis has already caused billions in losses worldwide, underscoring the fragile state of global commodity markets.
