MIRAEAMC - ENERGY (ENERGY)
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Houthi Drone Kills Indian at Saudi Airport as Brent Crude Nears $110
A Houthi drone attack on Dammam airport in Saudi Arabia killed two people, including an Indian national, and injured two others, sending Brent crude to its highest level since May and near $110 per barrel. The strike has rattled Indian markets, with the Nifty trimming early losses but the broad market bleeding as 432 stocks hit 52-week lows, while the rupee snapped an eight-day rally on rising oil prices. Analysts warn Brent could surge to $120 per barrel without a geopolitical resolution, and US stock futures are falling on the escalating tensions.
Oil surge triggers Nifty five-day slide
Brent crude crashing through the psychological $100-a-barrel mark sent Indian equities into a five-session tailspin, the longest losing streak in recent memory, as geopolitical flames from West Asia scorched investor confidence and put inflation fears back on the table. The Nifty 50 closed at 23,767.45, down 0.43 per cent or 102 points on Friday, its lowest closing level since June 12, 2026. For the week, the index shed 2.33 per cent, with all five sessions ending in the red.
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