New Delhi, May 27 -- Escalating tensions in the Middle East and renewed military activity around the Strait of Hormuz have once again shaken global markets, with crude oil prices volailte and concerns over inflation and interest rates still brewing.

Brent crude, which has surged over 55% since the conflict began on February 28, wee trading around $99 per barrel, while West Texas Intermediate was near $93 on Wednesday, 27 May amid fears of prolonged supply disruptions.

The latest volatility followed fresh U.S. strikes in Iran, Iranian accusations of ceasefire violations, and growing uncertainty over negotiations to reopen the Strait of Hormuz - a critical route carrying nearly one-fifth of global oil and LNG shipments. At the same time, ...