Trump ends Iran agreement, confirms military strike, oil jumps 4%
Business
Oil prices shot up over 4% after US President Donald Trump ended a key agreement with Iran and confirmed a military strike, calling the "very dangerous people from Iran."
The announcement, made at the NATO summit in Ankara, has everyone worried about rising U.S.-Iran tensions shaking up global oil markets.
Brent $77.31, Sensex and Nifty fall
With Brent crude now at $77.31 a barrel and traders nervous about possible disruptions through the Strait of Hormuz, energy supply risks are back in focus.
The ripple effect hit Indian stock markets too (Sensex dropped over 1,100 points and Nifty fell by 350 points) as investors reacted to higher oil prices and growing uncertainty in West Asia.