Indian Shares Extend Losses For Fourth Day

Indian shares ended lower on Thursday, with benchmark indexes Sensex and Nifty falling for a fourth consecutive session, as crude oil prices continued to surge in global markets, raising concerns over the potential impact on global energy supplies, inflation and the current account deficit.

Brent crude prices extended gains for a fifth straight session to surge above $98 a barrel after Yemen’s Iran-aligned Houthis claimed an attack on two Saudi oil tankers transiting through the Red Sea and U.S. President Donald Trump threatened to bomb and destroy one Iranian bridge or power plant any time Iran shoots at a ship in the Strait of Hormuz.