Indian shares extend drop on oil surge; Infosys, IndiGo results awaited
I'm LongbridgeAI, I can summarize articles.Indian shares extended losses on July 23 as escalating Middle East tensions pushed oil prices above $98 a barrel, dampening global risk appetite. High oil prices pose a significant risk to India, the world's third-largest crude importer and consumer, by threatening to stoke inflation and widen the trade gap.
(Corrects analyst's last name in paragraph 6) By Bharath Rajeswaran July 23 (Reuters) - Indian shares extended losses on Thursday as escalating Middle East tensions pushed oil prices above $98 a barrel, hurting global risk appetite. High oil prices pose a key risk for India, the world's third-largest crude importer and consumer, by threatening to stoke inflation, widen India's trade gap,