Oil prices surged sharply after fresh Iran-US tensions, triggering volatility in global markets and weighing on Indian equities despite positive global cues and steady institutional flows.
Oil prices rose sharply as fresh uncertainty over Iran revived supply concerns, with markets reacting quickly to geopolitical developments and ongoing tensions in the region.
The March contract of Brent on the Intercontinental Exchange (ICE) was at $54.70 a bbl, higher by 0.74 per cent from its previous close.
At the time of reporting, the June WTI crude was at $11 per barrel lower by 18.08 per cent from its previous close.
