Brent crude oil has surged past the $100-a-barrel threshold, marking a significant escalation in energy market volatility driven by deepening geopolitical tensions in West Asia.
The breach of this key psychological level has sent shockwaves through global risk assets, with Indian equity markets bearing the brunt of the selling pressure.
The BSE Sensex also extended its losses, continuing a bearish trend that has gripped D-Street since crude prices began hovering near $90 earlier in the week.
The Nifty 50 index fell for a fifth straight session, closing the week with a 2.33% decline.
The sustained downturn reflects a combination of rising input costs, inflationary fears, and persistent foreign institutional investor (FII) outflows.
The BSE Sensex also extended its losses, continuing a bearish trend that has gripped D-Street since crude prices began hovering near $90 earlier in the week.
The rapid ascent of oil prices underscores the market's sensitivity to supply disruption risks in the Middle East.