If Iran’s crude oil supply gets disrupted by 0.5 to 1 million barrels per day, it could lead to global crude oil prices surging by 5 to 10 dollars per barrel in the medium term.

Iran-Israel conflict disrupts global trade, impacting India's exports. Increased freight rates and uncertainties threaten Red Sea and Strait of Hormuz routes.

Nigeria would witness a surge in the price of petrol, diesel, jet fuel, gas and related products in the near term.

Indian benchmark indices edged higher on Monday, rebounding after two straight sessions of losses, despite lingering concerns over rising geopolitical tensions between Israel and Iran that continued to impact global market sentiment.

Oil futures jumped as the market reopened Sunday night, building on last week’s surge after Israel attacked Iranian energy facilities over the weekend and underlining fears around potential disruption to Middle Eastern crude flows.