West Asia War: Oil Surges, Rupee Dips to Record Low; India Faces LPG Crunch, Market Rout

• West Asia conflict escalates, briefly pushing crude oil prices to $120, raising global energy supply concerns.
• Indian markets see ₹8 lakh crore wiped out as Sensex, Nifty slide; rupee hits record low despite RBI intervention.
• India maintains calm, with no immediate plans to raise petrol/diesel prices or tap strategic oil reserves.
• Hotels and restaurants warn of potential closures within days due to commercial LPG supply shortages.
• EAM S. Jaishankar advocates dialogue for de-escalation; SEBI chief advises investors to remain calm.