A major escalation unfolded in the Middle East on Monday after Iran reportedly launched multiple missiles targeting US military installations in Qatar and Iraq, including Al Udeid Air Base in Qatar--the largest US military installation in the region, according to a CNN report
Amid the ongoing conflict in the Middle East and rising crude oil prices, energy experts have said that oil supply through the Strait of Hormuz is unlikely to be immediately affected, though risks remain if tensions escalate further.
The incidents came in the wake of heightened security in US cities following the strikes on three nuclear facilities in Iran. Police was cited as saying, "There is no evidence to believe that this act of violence has any connection with the conflict in the Middle East."
The United States of America has issued a "worldwide caution" travel advisory for the US citizens and interests abroad amid the rising tensions in West Asia due to which there have been disruptions in travel and periodic closure of the airspace across the Middle East.
AIMIM chief Asaduddin Owaisi on Sunday warned that a full-blown war in the Middle East could seriously affect over 16 million Indians living in the region, as well as India's economic interests, following the US strikes on Iran's nuclear facilities.
Israeli Defence Forces (IDF) Chief of Staff, Lieutenant General Eyal Zamir, conducted a situational assessment in the aftermath of last night's air raids on Iran.
"We are not seeking the surrender of Ukraine. We insist on recognition of the realities that have developed on the ground," Putin stated, emphasising that the Ukraine conflict is "completely different" from the situation in the Middle East.
The Indian Basmati rice sector is likely to have a significant impact, weighed down by ongoing uncertainties in the Middle East, according to a recent report by Crisil ratings.
Iran-backed militia Kataib Hezbollah warned it will target US bases across the Middle East if the US joins the Iran-Israel war. The group also threatened key shipping routes, while President Trump said he will decide in two weeks whether to launch a strike on Iran, CNN reported.
India's equity benchmarks remained muted on Thursday and ended with a marginal loss, possibly due to the ongoing geopolitical conflict in the Middle East and cautious signals from the US Federal Reserve, dampening investors' sentiment.
Indian airlines are facing renewed pressure on profitability as escalating tensions in the Middle East threaten to push global crude oil prices to USD 100 per barrel, according to a report by Nuvama.
The Indian stock markets ended on a flat note on Wednesday, reflecting the uncertainties arising from the tensions in the Middle East and the US Federal Reserve's policy meeting later tonight.