Indian Shares Set For Weak Start As Oil Ticks Up Again

Indian shares look set to open on a sluggish note on Friday, with uncertainty over reopening the Strait of Hormuz and caution ahead of the release of all-important U.S. jobs report later in the day likely to weigh on markets.

Brent crude futures traded above $83 a barrel, building on the previous session’s sharp gains, after Iran reportedly struck “hostile targets” in the Strait of Hormuz and said a deal with Oman to manage traffic through the waterway will not fully reopen the vital global trade route.