Middle East Conflict Sparks Global Selloff, Sends Oil Soaring Toward $100

Global financial markets came under pressure as renewed conflict in the Middle East triggered a sharp shift toward safe-haven assets. Asian equities led the decline, oil prices surged on fears of supply disruptions, gold gained ground and the Indian rupee weakened against the US dollar as investors reacted to rising geopolitical uncertainty. With Brent crude climbing sharply and concerns growing over the security of energy supplies through the Strait of Hormuz, analysts warn that a prolonged conflict could have significant implications for inflation, energy costs and economic growth worldwide. For India, which relies heavily on imported crude oil, LNG and LPG, the surge in energy prices could add fresh pressure on inflation and the broader economy. As tensions continue to escalate, markets are bracing for further volatility in the days ahead.