Amid the ongoing conflict in the Middle East and rising crude oil prices, energy experts have said that oil supply through the Strait of Hormuz is unlikely to be immediately affected, though risks remain if tensions escalate further.
If the heightened tension in West Asia pushes average crude prices by USD 10 per barrel, it will typically push up India's net oil imports by nearly USD 13-14 billion during the year, enlarging India's CAD by 0.3 per cent of GDP, noted a recent report by ICRA.
Indian stock markets opened on a weak note on Monday, reacting sharply to rising geopolitical tensions after the US-Iran conflict escalated over the weekend. Both benchmark indices faced strong selling pressure in the early trading session.
Despite recent volatility and rising conflicts between Israel and Iran, Brent crude oil prices are expected to average around USD 70 per barrel in FY26, according to a report by Emkay Research.
Amid rising global crude prices, India's current account deficit (CAD) for FY25 faces an upward risk, as every USD 10 per barrel increase in oil prices can worsen the annual CAD by nearly USD 15 billion, according to a report by Union Bank of India (UBI).
Any further escalation in the Middle-East crisis or a sharp rise crude prices could pose a serious risk to earnings, especially for Indian Oil Marketing Companies (OMCs) and gas companies.
LPG losses incurred by oil marketing companies (OMCs) are expected to decrease by around 45 per cent in FY26 if crude oil prices remain stable at USD 65 per barrel, according to a report by CareEdge Ratings.
United States may reduce its oil production which could lead to an annual decline in output in 2026 due to the sluggish demand and falling crude prices, according to a new analysis by S&P Global Commodity Insights.
As crude oil prices decline sharply and global commodity markets reel under pressure, India's macroeconomic fundamentals appear much stronger compared to previous global crises, highlights a report by Motilal Oswal.
Nationalist Congress Party (Sharad Chandra Pawar) MP Supriya Sule on Tuesday expressed surprise at the recent hike in LPG cylinder prices, questioning why the public is not getting the benefit of the fall in crude oil prices in the country.
Amid the turmoil in stock markets over the tariffs imposed by US President Donald Trump, Congress chief Mallikarjun Kharge on Monday attacked the Modi government, stating that the benefit of reduced international crude prices has not been passed on to consumers and excise duty has now been h