The risk of a broader conflict in West Asia after Iran's attack on Israel on Saturday may trigger volatile swings in equity markets, as rising crude oil prices could unnerve investors. In addition, there are chances that investors may seek to book some profits and take some risk off the table.
Iran fired over 300 drones and missiles towards Israel on Saturday night, in response to an alleged Israeli strike on its consulate in Syria which killed several people, including two Iranian army generals.
Though Israel, along with its ally US, successfully intercepted most of these drones and missiles, limiting the overall damage, any potential Israeli reaction to the attack could lead to the conflict spreading beyond the two countries. Iran, however, said the matter is "concluded" for now, but vowed to strike back with greater force if Israel retaliates.
With the price of Brent crude already hovering over $90 per barrel, this fresh escalation has raised fears that oil prices may inch closer to $100/barrel.
Denne historien er fra April 15, 2024-utgaven av Financial Express Mumbai.
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Denne historien er fra April 15, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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