US-Iran Tensions Send Global Commodity Markets into Turmoil

MUMBAI / NEW DELHI: The ongoing war and geopolitical tensions between the US and Iran are now having a direct and serious impact on the global commodity market. On Thursday, the Indian futures market i.e. Multi Commodity Exchange (MCX) recorded a historic and devastating jump in crude oil prices by 12.50% at 7 pm. This has caused great panic among traders and investors. According to official data from digital media platforms and financial websites, crude oil has also flared up in international markets.