Crude oil prices jump and stocks sink
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Asianet Newsable on MSNMarkets open cautiously green amid Israel-Iran tensions; Experts see no long-term impactIndian stock markets opened on a flat note in green on Monday, reflecting cautious investor sentiment amid ongoing tensions between Iran and Israel. The Nifty 50 index opened at 24,732.35, marking a modest gain of 13.
Israel's strike on Iran sparked turmoil in financial markets overnight. There was a sharp risk-off move, with stocks tumbling and gold climbing. The price of crude oil spiked as much as 14%.
The latest military attack on Iran by Israel has tanked stock markets and pushed up oil prices, but most asset managers think the impact on the U.S. economy and markets will be temporary as long as the conflict does not escalate further.
The escalating tensions between Iran and Israel are also sending shockwaves through global stock markets, with India’s benchmark Sensex closing 573 points lower on Friday.
The International Energy Agency is "actively monitoring the impact on oil markets from the Israel-Iran situation," executive director Faith Birol said in a post on X Friday. "Markets are well supplied today but we're ready to act if needed,