Oil Prices Surge As Stocks Skid Amid Flight From Risk

Oil prices spiked as renewed conflict in the Middle East rattled global markets. Brent crude jumped to $78.34 per barrel, while U.S. crude reached $71.88, underscoring fears of supply disruptions through critical trade routes such as the Strait of Hormuz.  

Equity markets faced heavy selling pressure as investors fled riskier assets. Safe-haven demand boosted gold by 1.5%, while the dollar and bonds also saw inflows. Analysts warn that prolonged instability could reignite inflationary pressures, complicating monetary policy and dampening global demand.  

Market watchers are closely tracking both geopolitical developments and upcoming U.S. economic data, including manufacturing surveys and payroll reports, which could further influence investor sentiment. The surge in oil prices highlights the vulnerability of global markets to geopolitical shocks.  

Key Highlights  

• Brent crude surged 7.5% to $78.34 per barrel  
• U.S. crude rose 7.3% to $71.88 per barrel  
• Gold prices climbed 1.5% amid safe-haven demand  
• Stocks slid globally as investors fled risk  
• Middle East conflict raises inflation and demand concerns  

Sources: Economic Times, Yahoo Finance, U.S. News