Oil Prices Jump, Asian Markets Dip As Middle East Crisis Escalates

Monday, 23 June 2025Newsdesk

Market participants are expecting more price gains amid mounting fears that Iran may retaliate against the US with the closure of the Strait of Hormuz-- which sees around a quarter of global oil trade and 20 per cent of liquefied natural gas supplies.

New Delhi 23 June 2025

As per news report of NDTV,Asian markets plunged while oil prices briefly hit five-month highs on Monday amid concerns of disruption to energy markets after the United States joined Israel in attacking Iran's nuclear facilities, escalating the Middle East crisis. Iran is the world's ninth-biggest oil-producing country, with an output of about 3.3 million barrels per day.

Source - NDTV