Global crude oil prices could climb to around USD 120 per barrel if the conflict in West Asia continues for a prolonged period, said Manoranjan Sharma, Chief Economist at Infomerics Ratings, warning that an extended geopolitical crisis could significantly disrupt global economic calculations
Crude oil prices shot up sharply, reportedly after the US President Donald Trump sought what he called "unconditional surrender" from Iran, intensifying worries about a prolonged conflict that could disrupt global energy supplies.
Scott Bessent, the US Treasury Secretary, yet again said that the United States has given India the "permission" to accept Russian oil in the wake of the developing security situation in West Asia.
While the government frames the move as a pragmatic victory for energy security amid the escalating West Asia conflict, the Opposition argues it exposes a newfound Indian dependency on Washington's "permission." The ruling BJP party hails this as a "diplomatic win" and a success of PM Mod
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."
"Reports on social media suggesting a shortage of petrol and diesel are baseless. India has sufficient fuel stocks, and supply and distribution networks are functioning normally," IndianOil said.
A 10 per cent increase in global oil prices is estimated to have a direct impact of approximately 0.7-1 per cent on India's Wholesale Price Index (WPI). According to a report by Bank of Baroda on the Middle East crisis, the overall effect could reach a 1 per cent increase in WPI inflation wh
After a rebound the previous session, Indian stock indices traded again in the red on Friday, ending the week on a weak note amid tensions in West Asia.
India is in a "very comfortable position" regarding crude oil, petroleum products and LPG supplies despite concerns over disruptions through the Strait of Hormuz, government sources said on Friday.
International experts at the Raisina Dialogue 2026 underscored India's strategic autonomy and evolving global role. Amidst a 30-day US waiver for Russian oil, diplomats from Poland, the OECD, and Austria emphasised that while diversification is key, India remains a trusted, essential partner
Congress President Mallikarjun Kharge on Friday said that India's strategic autonomy and national sovereignty are under "dire threat" as the United States allowed a 30-day waiver for New Delhi to purchase Russian oil amid shipping routes passing through the Strait of Hormuz being hampered