Indian markets likely to open lower amid oil, Iran tensions
Business
Indian stock markets are likely to start the week in the red, thanks to rising oil prices and fresh geopolitical worries.
Brent crude shot up past $101 after U.S.-Iran peace talks broke down, and now the US is reportedly planning to enforce a naval blockade around Iranian ports.
Add in Israel also plans to resume strikes on Iran, and it's no surprise that early indicators like GIFT Nifty are showing negative vibes.
Asian markets slip as oil jumps
It's not just India: Asian markets slipped too, with Australia, Hong Kong, Japan, and South Korea all trading lower.
Oil prices surged (US crude jumped 8%, Brent was up 7%) as traders reacted to the growing uncertainty.
Basically: global markets are jittery right now, all eyes on what happens next in the Middle East.