Sensex Falls 650 Points as Oil Prices Surge Past $108 on US-Iran Tensions
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Indian stock markets faced sharp losses with the Sensex declining around 650 points amid rising global tensions between the US and Iran. Oil prices surged significantly, with Brent crude crossing $108 per barrel and WTI topping $102 per barrel. The spike in crude prices rattled investor sentiment across global and domestic markets. Rising oil costs pose a significant risk to India's economy, which is heavily dependent on crude imports. The market volatility reflects broader concerns about the geopolitical situation and its potential impact on global energy supplies.
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