Indian shares climb as oil prices fall on peace deal hopes
Indian shares opened higher on Monday as crude oil prices fell below 100 dollars per barrel following reports of a potential peace deal between Washington and Iran. The Nifty 50 and BSE Sensex both gained over 1 percent as all major sectors logged gains amid optimism that the Strait of Hormuz will reopen.
India equity benchmarks rose 1.1% on Monday morning as falling crude oil prices boosted investor sentiment. The rally followed reports of a potential peace agreement between the United States and Iran to end their three-month conflict. Lower energy costs provide immediate relief to the Indian economy, which relies on imports for over 80% of its fuel needs.
### Peace Talks Drive Oil Below $100 Brent Crude Oil futures fell 5.8% to $97.50 per barrel, marking the first time prices dropped below the $100 threshold in over two weeks. This decline followed a Saturday statement from U.S. President Donald Trump, who noted that Washington and Tehran had largely negotiated a potential memorandum of understanding. The deal aims to reopen the Strait of Hormuz, a critical maritime artery that previously handled 20% of global oil and liquefied natural gas shipments.
