Global crude oil prices rose above $90 per barrel on Monday following the expiration of the US-Iran ceasefire and renewed threats of military escalation in the Strait of Hormuz.
The surge in energy costs has triggered a sell-off in global stock futures, with investors bracing for potential supply chain disruptions and increased inflationary pressure on the US and Indian economies.
Market analysts warn that if the conflict in the Middle East intensifies, the resulting volatility could force central banks to reconsider their interest rate trajectories to combat rising energy-driven inflation.