Indian Stocks’ Rally Faces Test as Oil Jumps on Renewed US-Iran Tensions
Nifty capped a second straight weekly advance on Friday.
This article is for subscribers only.
Good morning...
I’m Alex Gabriel Simon with a quick pulse check as markets begin a new week.
We’ve swung dramatically from hope to fear yet again on the Middle East conflict since late last week, and energy markets have whipped around accordingly. Oil and natural gas prices soared on Monday after the US Navy seized an Iranian ship during a chaotic weekend that saw Tehran firing at vessels and reimposing controls in the Strait of Hormuz. India’s government spoke to the Iranian ambassador after two Indian-flagged ships were shot at in the waterway.