West Asia Tensions Escalate: Oil Jitters Rise, Markets Slide

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West Asia Crisis Deepens: Oil Prices Soar, Markets Plunge, India Balances Act

West Asia Crisis Deepens: Oil Prices Soar, Markets Plunge, India Balances Act

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CNBC TV18•06-03-2026, 22:11

West Asia Crisis Deepens: Oil Prices Soar, Markets Plunge, India Balances Act

•West Asia tensions escalate with Iranian President Masoud Pezeshkian confirming mediation efforts but stressing focus on those who "ignited" the crisis.
•US grants India a 30-day waiver to purchase Russian oil, easing supply concerns amid potential Strait of Hormuz disruptions.
•Qatar's Energy Minister Saad al-Kaabi warns West Asia conflict could push oil prices to $150 a barrel, rattling global energy markets.
•Indian markets Sensex and Nifty record biggest weekly fall in over a year, slipping 3% due to geopolitical risks and volatile crude prices.
•RBI proposes up to ₹25,000 compensation for small digital frauds; HUL CEO sees strong India consumption story; Maharashtra and Karnataka unveil new budgets.

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