Sensex, Nifty Close Weak As Brent Crude Crosses $98 On US-Iran Tensions

The prospect of a renewed Houthi campaign against Red Sea shipping has also emerged as the latest challenge for the United States, raising concerns that US may soon have to divide its military resources between two major maritime fronts across the Middle East. The Houthis said they would seek to impose a naval blockade on Saudi ports along the Red Sea, a move that could disrupt a significant share of global energy supplies. Global oil expert and CEO-Australia, Trading.com Peter McGuire told Times Now Digital, “as they say in any relationship negotiation, it takes two to tango and at present the situation looks like it doesn’t carry the desire to de-escalate. We could see crude oil at 100 dollars per barrel before the end of the month.”

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