April 03, New Delhi – The increase in oil prices is having a significant impact on global financial markets, with crude oil futures rising by over 60 percent since the start of the Iran war.
At the same time, stock markets around the world have declined. In the United States, the S&P 500 has fallen by nearly five percent. Asian markets have also experienced a sharper decline: Japan's Nikkei has fallen by over ten percent, while South Korea's Kospi has dropped by close to seventeen percent. European markets are also trading at lower levels.
Rising oil prices are contributing to higher inflation and increasing costs for businesses and consumers.
