Oil Prices Crash Over 13%, GIFT Nifty Jumps 4.75% After US Pauses Iran Strikes

New Delhi: Markets saw a dramatic shift on Monday as falling tensions in the Middle East brought relief to investors and energy markets alike.

Oil Prices Fall Sharply

Global crude oil prices recorded a steep decline after fears of supply disruption reduced. Brent crude fell by over 13 percent, dropping nearly USD 17 to around USD 96 per barrel. US West Texas Intermediate crude also slipped about USD 13, or 13.5 percent, to USD 85.28. The fall came quickly as traders reacted to easing conflict concerns.

Tensions Show Signs Of Easing

The drop in oil prices followed an announcement by US President Donald Trump to pause military strikes on Iran’s energy infrastructure. He directed the defense department to delay planned attacks for five days. This decision came after what he described as productive discussions with Iran, raising hopes of a diplomatic solution.

Markets React Positively

Equity market signals turned strong after the announcement. GIFT Nifty surged to 23,533.50 from its previous close of 22,465, marking a sharp gain of 1,068.5 points or 4.75 percent. Later in the evening, it remained higher by 853.50 points or 3.80 percent at 23,318.50, indicating sustained positive sentiment among investors.

Gold And Silver Recover

Precious metals also reacted to the changing situation. Gold prices, which had fallen sharply earlier, recovered part of their losses. In global markets, gold was down 2.6 percent after earlier dropping nearly 5 percent. In India, MCX gold reduced its losses to about 3 percent after initially falling close to 10 percent.

Overall, the easing of geopolitical tensions helped calm global markets, leading to lower oil prices and a strong rebound in equity indicators.