Middle East Conflict Raises Oil Prices Amid Supply Concerns and Market Uncertainty

Following US and Israeli military strikes on Iran and the death of Iran's Supreme Leader, tensions in the Middle East have escalated, raising concerns over disruptions to global oil supplies, particularly through the Strait of Hormuz, which handles about 20% of world oil trade. Brent crude prices surged to around $80 per barrel, with analysts warning they could reach $100 if the conflict prolongs or supply routes are blocked. The situation has also driven investors toward safe-haven assets like gold and silver. Market responses include OPEC's modest output increase and suspended shipments through key waterways, while experts highlight potential inflationary impacts and economic risks globally and for import-dependent countries like India.