Overview
- U.S. Central Command said the military carried out strikes against Iran for a third consecutive night, a confirmation that the exchanges have escalated beyond intermittent incidents.
- President Donald Trump announced on social media that the U.S. is reinstating a blockade of Iranian shipping through the Strait of Hormuz and proposed charging a passage fee, a step that raised fears of disrupted tanker movements.
- Brent crude jumped toward mid‑June levels, trading in the mid‑$80s per barrel, as markets priced in higher short‑term supply risk and greater inflation pressure for oil importers such as India.
- Global markets swung: energy and defensive stocks outperformed while semiconductor and tech names fell, and Indian indices opened sharply lower before selective buying in IT and consumer durables helped pare losses; foreign institutional investors moved to net selling while domestic institutions provided some support.
- Key near‑term risks to watch are U.S. inflation data and Fed testimony this week, ship traffic through the Strait of Hormuz, and how sustained oil gains could raise import bills, pressure currencies and squeeze corporate margins in energy‑dependent economies.