Crude oil prices surged on fears that the Strait of Hormuz could remain closed for an extended period. The Strait of Hormuz is the world's most critical oil shipping lane, connecting Gulf producers like Saudi Arabia, Iraq, Kuwait, and the UAE to global markets. Roughly one-fifth of all oil traded globally passes through it each day. Any prolonged blockage would sharply cut the volume of crude reaching refiners in Asia, Europe, and the US. When supply tightens that fast, prices move up quickly. Higher crude prices feed through to fuel costs for consumers and businesses within weeks. Refiners face margin pressure if they cannot pass costs on, and energy-importing economies face wider trade deficits. Markets will now watch for any diplomatic or military developments that signal how long a closure could last, and whether major producers have spare pipeline or export capacity to route oil around the strait.
Indian startups raised $5.2 billion across 501 deals in H1 2026, down 9% in value but up 7% in deal count year-on-year, per the Inc42 Indian Tech Startup Funding Report. The drop is driven by fewer mega-rounds, while AI funding surged 317% and growth-stage deal activity hit a multi-year high.
The BSE Sensex fell 893 points and the Nifty 50 shed 279 points on June 30, 2026, wiping out roughly Rs 6 lakh crore in investor wealth in a single session. Both indices dropped 1.16%, closing at 76,200.68 and 23,824.10 respectively.
Kotak Mahindra Bank shares fell nearly 3% to Rs 397.6 after CEO Ashok Vaswani announced plans to exit the bank. Investor concern now centres on succession timing and whether the bank's ongoing digital and deposit-growth strategy will stay on track.
South Korea's Kospi dropped 3% at Monday's open while Japan's Nikkei fell 1%, as escalating US-Iran conflict triggered a broad risk-off move across Asian markets. South Korea's heavy reliance on Middle East oil imports makes it especially vulnerable to geopolitical shocks of this kind.
