Iran Israel Tensions Trigger Big Jump in Oil Prices | Vantage with Palki Sharma
Iran Israel Tensions Trigger Big Jump in Oil Prices | Vantage with Palki Sharma
Oil prices surged as concerns mounted that a widening conflict in West Asia could disrupt the global oil supplies. Brent Crude traded at $76 a barrel. West Asia is the biggest exporter of oil accounting for a little over 30% of the global oil production. There are going fears that a potential Israeli attack on Iran's oil facilities could lead to a sharp rise in crude prices. The International Monetary Fund (IMF) has also issued a warning about significant impact of the escalation on the global economy. An increase in oil price would lead to a surge in the prices of commodities. India being one of the largest importers of oil in the world is set to feel the heat. The impact is not limited to oil prices. Indian markets are also feeling the pressure as key market indices - Sensex and Nifty were down for the fifth consecutive day.
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Iran Israel Conflict | Oil Prices | Brent Crude | India | International Monetary Fund | West Asia | Sensex | Nifty | Firstpost | World News | News Live | Vantage | Palki Sharma | News
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Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
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