Global crude oil prices remained highly volatile this week, with key benchmarks trading lower on Friday amid ongoing geopolitical tensions.
Brent crude futures fell 2.29 per cent to $105.53 per barrel, while US WTI crude dropped 2.54 per cent to $92.08.
Brent has declined more than 5 per cent over the week, staying above the $100 mark, while WTI edged close to $90.
The Indian rupee weakened by 28 paise to 94.24 against the US dollar, marking a fresh all-time low in early trade.
Safe-haven demand supported precious metals, with April gold contracts rising 1.07 per cent to Rs 1,40,979, while May silver futures climbed 1.92 per cent to Rs 2,24,097.
Market sentiment remained fragile amid uncertainty over the West Asia conflict.
US President Donald Trump extended the pause on attacks targeting Iran’s energy infrastructure, claiming talks were progressing ‘very well’, though Iran described the proposal as ‘one-sided and unfair’.
No confirmation of ongoing US-Iran negotiations has been given.
Global equity markets reflected caution, with the S&P 500 down 1.74 per cent and the Nasdaq falling 2.38 per cent.
Asian indices also declined, with Japan’s Nikkei slipping over 1 per cent and South Korea’s Kospi dropping nearly 3 per cent.
Domestic benchmarks mirrored global weakness, with Sensex falling over 400 points to 74,883.79 and Nifty 50 opening at 23,173.55, down 132.90 points or 0.57 per cent.
Markets continue to watch global developments closely as uncertainty in West Asia keeps commodities, currencies, and equities under pressure.
Also Read: Oil Prices Cross $100 As Iran Rejects Direct Talks With US; Escalates Supply Concerns
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