New Delhi, March 10 -- A new financial report from Emkay Wealth Management warns that the escalating Middle East conflict is creating significant economic pressure on India through rising energy costs and market volatility.

The report highlights that the conflict involves a "whole web of countries" and its impact may be more severe than many expect.

The primary concern for the Indian economy is the sharp increase in fuel costs. According to the report, "Brent has moved up from a range of US$ 65-US$ 70 per barrel to US$ 110 per barrel since the war broke out." This surge is linked to major infrastructure failures in the region.

"Iran's oil infrastructure has been damaged. The Strait of Hormuz is closed. LNG supply from Qatar is closed. ...