Geopolitical Tensions Drive Oil Prices Upward

US-Israeli military actions against Iran over the weekend disrupted shipments through the Strait of Hormuz, pushing Brent crude to a seven-month high of $72.87 on Friday and prompting Barclays to warn prices could hit $100 a barrel. Analysts including JM Financial and Elios expect a risk-off opening for Indian equities, sector rotation, higher import-bill pressure, and renewed demand for gold, silver and the US dollar.