Brent crude prices surged sharply on Monday, rising by more than 25 per cent to USD 116.5 per barrel, amid the ongoing conflict in West Asia which has made crude prices bullish.
Indian share markets are closed on Tuesday on account of the Holi festival holiday, with trading suspended on both the National Stock Exchange (NSE) and the BSE.
Escalating tensions in Iran and the wider West Asia region have intensified concerns over global crude oil supplies, with experts warning of sustained volatility that could potentially impact India's energy sector.