April 24 (Lagos) - Crude oil prices jumped higher as Geo-political tensions have reached boiling point in Asia after Islamist terrorists backed by Pakistan killed more than 25 Indians in Kashmir after checking their religious identities. Videos on X (formerly twitter) showed eye witnesses sharing details of the slaughter of their relatives few minutes after the attacks after verifying their religious identities.
Brent oil prices climbed above $66.35 a barrel while US crude prices shot up to $62.59 a barrel at the time of writing this article. Crude oil prices in India jumped to almost $69 a barrel.
Gold prices surged higher by more than 1.5% to near all time highs as Indians scrambled for safe heaven investments. In India Gold is a highly sought after investment traditionally.
It is likely that India will strike into Pakistan and disable its terrorism networks which are backed up by its army. It could lead to a full scale war this time, a first in 25 years. In the past India has defeated Pakistan 3 times in the past but never perused territory annexation even after their surrender's of the past. That allowed them to re-build their terror network which has affected the whole world in recent past.
A few days prior to the terrorist attacks, the Pakistani army chief delivered a highly divisive speech calling for a religious war in Kashmir.
India has only responded diplomatically so far, suspending a water treaty signed in 1960 and ordering all Pakistani nationals to leave India within 48 hours while recalling most of its personnel from high commission in Pakistan and Ordered Pakistan to recall its staff from its high commission in India.
India's PM Modi had to cut short his visit to Saudi Arabia and return home after the attacks. He has promised to bring justice by finding those responsible for planning and enabling these attacks - a veiled reference to the Pakistani army.