Global markets remain highly volatile as the ongoing Middle East conflict and wider geopolitical tensions continue to influence sentiment. Oil prices have stayed elevated after supply disruptions in the Gulf and uncertainty around the Strait of Hormuz, creating inflation worries for major economies and pressure on transport, chemical, paint, aviation and FMCG sectors. Despite this, U.S. markets recently touched record highs led by strong tech earnings, showing that investors are still buying quality stocks on dips. Europe is facing weaker consumer confidence due to higher fuel and living costs, while Russia has adjusted its rate outlook because of war-related oil shocks. For India, higher crude can impact inflation, rupee movement and oil-import costs, but sectors like defence, energy producers and select exporters may stay in focus. Overall, market direction will depend on peace progress, oil prices, central bank policy and upcoming earnings results.