ONGC Share Price Soars to 52-Week High as Oil India Jumps 10% on Global Oil Surge

Why Is The Oil Prices Surging? Storms, Supply Crunch, and Middle East Tensions

Oil markets are experiencing active trading because prices are rising due to dual market forces, which include supply interruptions and geopolitical conflicts. A severe winter storm caused U.S. crude producers to lose almost 2 million barrels per day, which represented 15 percent of the national production capacity. Vortexa, a ship-tracking company, reported that Gulf Coast exports of crude and LNG reached zero, while Kazakhstan production losses created additional constraints on global oil supplies.

Analysts warn that once the storm passes, selling pressure may return, likely keeping WTI crude near $60 per barrel. The market maintains its anxious state because rising tensions between the U.S. and Iran create fears about potential military conflict. Traders at an aircraft carrier base in the Middle East are closely monitoring all developments because they want to understand how these changes will affect trading operations.

The unpredictable combination of weather patterns, political situations, and supply chain limitations creates a situation that requires complete market observation from both consumers and investors.

(With Inputs)

Also Read: Vodafone Idea Share Price in Focus: Q3FY26 Numbers Cheer Investors Despite Debt Worries