The ongoing tension in the Strait, a major route for global oil transportation, has investors worried.Crude oil prices in the international market rose more than 7 percent in a single day on Monday. US crude oil prices rose 7.4 percent to $71.97 a barrel, while Brent crude oil prices rose 7.7 percent to $78.46. However,…
As the U.S. and Israeli air campaign against Iran intensified, investors sought safe-haven assets, boosting concerns that the conflict could escalate into a protracted regional war and increase uncertainty. As a result, gold prices increased for the fifth straight session on Tuesday. At $5,362.90 an ounce, spot gold was up 0.7%. After the United States…
As a result of the West Asia war pushing crude prices higher and causing a flight to safe havens, benchmark indices, the Sensex and Nifty, plummeted more than 1.2% on March 2. The BSE Sensex fell 1.29% to 80,238.85, the lowest level in six months, while the Nifty 50 fell 1.24% to a one-month low…
If the tension between the United States and Iran increases, the oil market will be affected first, because Iran is a major oil supplier to the world and most of its oil passes through the Strait of Hormuz. If there is a problem in that area, the fear of a shortage of oil supply arises…
Today, the commodity market is in the spotlight amid intensifying violence in West Asia. Sharp price movement has been observed in commodity prices amid the increased geopolitical tensions surrounding the US and Israeli attack on Iran. Silver is trading about $95/oz, while Brent Crude has surged to around $80/bl. Gold is stable at $5,300 per…
