US attack on Qassem Soleimani to hit India's economic recovery, say experts

Brent Crude Futures surged over 3 per cent to trade at $68.25 per barrel-mark. The West Texas Intermediate, too, gained 2.71 per cent to $62.84 per barrel.

A surprise air-strike by the US military that killed Iran Revolutionary Guards' commander Qasem Soleimani on Friday escalated tensions between Washington and Tehran. According to the US Department of Defence, President Donald Trump had ordered the strikes "in a decisive defensive action to protect US personnel abroad".

"General Soleimani was actively developing plans to attack American diplomats and service members in Iraq and throughout the region. General Soleimani and his Quds Force were responsible for the deaths of hundreds of American and coalition service members and the wounding of thousands more," Pentagon said in a statement.

The strike, which follows