Israel-Hamas War Escalation Raises Oil Prices, Sparks Global Market Declines

Oil prices surge as the Israel-Hamas war escalates, threatening higher imported inflation for major economies like the US, India, and China.

If the conflict spreads and involves Iran, it could disrupt vital oil shipping routes and further increase prices.

India's trade with Israel is unlikely to be impacted immediately, but supply chains could be disrupted if tensions rise.

Global equity markets decline as investors turn cautious and risk-off sentiment prevails. Safe havens like gold and the dollar strengthen.

While no major immediate impact is seen on India's market, the situation needs close monitoring, especially if it involves other nations like Iran.