Brent crude prices surged sharply on Monday, rising by more than 25 per cent to USD 116.5 per barrel, amid the ongoing conflict in West Asia which has made crude prices bullish.
The report noted, "If the crisis persists, it could have material implications for the exchange rate and the current account deficit and could stoke inflationary pressures."
Escalating tensions in West Asia, particularly around Iran and the Strait of Hormuz, could pose near-term risks to global markets through higher energy prices, though India's underlying economic momentum remains relatively resilient, according to a report by Jefferies.
"If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz as soon as possible. No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD. The United States' ECONOMIC and MILITARY MIGHT is the GREATEST ON EARTH - More actions t
Crude oil prices may surge above the USD 100 per barrel threshold if there is any structural disruption to oil infrastructure amid the ongoing military escalations in West Asia, according to a report by ICICI Bank.
Escalating tensions in Iran and the wider West Asia region have intensified concerns over global crude oil supplies, with experts warning of sustained volatility that could potentially impact India's energy sector.
Brent crude prices have surged around 10 per cent amid escalating tensions in the Middle East following ongoing military confrontation between Iran and the United States after the killing of Iran's Supreme Leader Ayatollah Ali Khamenei.
HSBC Global Investment Research has kept its Brent price forecast unchanged at USD 65 per barrel for 2026, even as it warned of rising risks following air strikes on Iran.
Global crude oil prices are expected to soften significantly in 2026, with Brent crude likely to decline to around USD 50 per barrel by June 2026, according to a report by State Bank of India.
The margins of India's oil marketing companies (OMCs) are unlikely to come under significant pressure despite the United States imposing sanctions on two of Russia's largest crude oil producers, Rosneft and Lukoil, according to a report by Fitch Ratings.
Brent crude oil prices are expected to rise to USD 80 per barrel in the coming months as tensions between the United States and Russia threaten to disrupt the global oil supply chain, highlighted oil market experts in conversation with ANI.