Indian equities are expected to open flat or slightly negative on Tuesday, as crude oil prices climb and US-Iran tensions remain high. Brent crude reached $97 per barrel, with analysts anticipating further volatility. The Nifty index is seen finding support around 23,600-23,500.
The situation in the Persian Gulf has intensified, with reports of continued clashes between US and Iranian forces. This has raised concerns over potential disruptions in oil supply, pushing Brent crude close to $98 per barrel. Analysts note that the conflict could lead to longer-term price pressures.
Oil prices rose again on Monday following recent attacks on tankers in the region. A barrel of Brent crude cost $97.25, up by $1.01 from the previous day. The ongoing tensions have sparked fears of reduced global oil supplies, affecting energy markets and data flows.
The conflict has also raised questions about the stability of key shipping routes, with some experts warning of potential economic consequences. As the situation evolves, investors are closely monitoring developments for further market impact.
