Global markets reacted sharply as crude prices climbed despite a historic emergency oil reserve release, highlighting investor fears that tensions in the Middle East could disrupt key shipping routes.
The attack on Pacific Zircon, which is owned by Idan Ofer and operated by the Singapore-based Eastern Pacific Shipping, sent Brent crude prices up 65 cents to $94, The Guardian reported. The Liberian-flagged tanker had departed from Sohar on Monday afternoon and was destined for Buenos Aires.
Oil prices rose more than 1 per cent on Tuesday after declining to a nine-month low a day earlier, amid the hint that the Organization of the Petroleum Exporting Countries (Opec+) -- the producer alliance -- may go for output reductions to prevent further collapse in prices.
All sectors, except consumer durables and capital goods, traded in red.
The domestic currency which closed at 70.15 per US dollar, traded on a flat note.
The benchmark index touched a high of 35,545.85 and a low of 35,324.37 while the NSE's Nifty was trading 44.05 points higher at 10,660.75.
