Indian equity markets closed for Ganesh Chaturthi, while Asian stocks fell amid rising tensions in West Asia. The BSE and NSE are set to reopen on Tuesday. Energy prices climbed as Brent approached $108, driven by the shutdown of a Saudi pipeline and attacks in the Gulf.
Saudi traders reported that Riyadh has enough oil at its Red Sea Yanbu port to maintain exports for five to seven days if the pipeline remains shut. Fresh strikes on Saudi Arabia and ships in the Gulf have raised concerns about the stability of global energy supplies.
Oman has postponed talks with Iran and other Gulf states, citing the need for consensus. Saudi authorities issued and later lifted warnings for southwestern areas, indicating the situation remains under control but volatile.
The ongoing unrest has led to increased uncertainty in the region, affecting both regional and international energy markets.
