Escalating Global Conflicts to Keep Markets on Boil

Crude prices soar above $75 a barrel, stoking fears of inflationary pressure

- Dipti Sharma

MUMBAI: Global markets, including India's benchmark indices, have been rattled by escalating geopolitical tensions as Israel launched airstrikes early Friday targeting Iran's nuclear and military infrastructure.

The strikes reportedly came in response to Iran being on the brink of developing nuclear weapons, amplifying the instability across West Asia and fueling fears about oil prices remaining stubbornly high.

The Israel-Iran conflict has sent Brent crude prices soaring above $75 a barrel, stoking fears of inflationary pressure driving up input costs and threatening the profitability of Indian companies. Brent crude surpassed $78 per barrel on Friday before retreating from its peak. Still, prices have surged 8% over the past two sessions.