China has strongly criticised the US blockade of the Strait of Hormuz, calling it a "dangerous and irresponsible move" that threatens regional stability. Beijing denied allegations of aiding Iran militarily and warned of countermeasures if Washington raises tariffs.
Indian equity markets opened sharply lower as rising crude oil prices amid the US-Iran war dampened investor sentiment. Sensex and Nifty fell over 0.6 per cent, while most sectoral indices traded in the red. Analysts warned higher oil prices could increase inflation and market volatility
Gold and silver prices fell as investors booked profits, despite geopolitical tensions and a softer US dollar. MCX gold dropped to Rs 1,62,452/10g and silver to Rs 2,73,150/kg, while crude oil eased below $90, easing inflation concerns
Crude oil prices fell after reports the International Energy Agency may release record emergency reserves to curb the surge triggered by the US-Iran war. Brent and WTI declined sharply as G7 nations explored measures to stabilise markets and ease global energy costs
