New Delhi, April 6 -- As the Middle East war stretches into its 38th day, the conflict continues to inflict heavy pressure on global economic stability. Over the weekend, US President Donald Trump escalated his rhetoric, issuing a firm Tuesday deadline for Tehran to reopen the Strait of Hormuz.

Trump threatened to unleash "hell" if his demands are not met, warning in an expletive-laden post that American forces would obliterate Iranian power plants and bridges in retaliation.

Consequently, oil markets opened sharply higher, with Brent crude futures surging past the $111 per barrel mark. Further complicating matters, Iranian officials rejected the ultimatum, declaring that the crucial waterway-through which 20% of the world's oil flows-w...