Stock markets are likely to open higher on Monday despite fresh petrol and diesel price hikes, as easing crude oil prices and hopes of a possible peace deal between the US and Iran improved global market sentiment.GIFT Nifty futures were trading at 23,915 around 8:42 am, indicating that the benchmark Nifty50 could open above Friday’s closing level of 23,719.30.The positive cues come after crude oil prices slipped below the $100-per-barrel mark for the first time in more than two weeks.Brent crude futures were down around 4% at $99.39 per barrel amid hopes that tensions in West Asia could ease soon.Hitesh Tailor, Research Analyst at Choice Equity Broking, said Indian markets are expected to open strongly due to improving global sentiment and easing geopolitical concerns.“Indian equity markets are expected to open on a sharply positive note, with Gift Nifty trading around 23,950, up by 259 points, indicating strong opening cues for domestic indices,” he said.According to Tailor, improving global risk appetite and strength across Asian markets are supporting market sentiment.Global markets reacted positively after US President Donald Trump said Washington and Iran had “largely negotiated” a memorandum of understanding on a peace deal.The proposed agreement is expected to reopen the Strait of Hormuz, a key global shipping route that handled nearly one-fifth of the world’s oil and LNG shipments before the Iran conflict intensified.Asian markets rose 1.2% in early trade following the decline in crude oil prices.However, despite the optimism, the Trump administration later played down hopes of an immediate breakthrough in the three-month-old conflict.PETROL, DIESEL PRICE HIKE STILL A CONCERNEven as crude prices cooled globally, Indian consumers are facing another increase in fuel prices.Petrol and diesel prices were hiked again over the weekend, marking the fourth increase in less than two weeks.The repeated fuel price hikes have raised concerns around inflation, transport costs, logistics expenses, and household budgets.Higher fuel prices usually....