Taiwan's three major airlines, China Airlines, EVA Air, and Starlux Airlines, announced on Friday that they will increase fuel surcharges on all international flights starting July 7, citing rising global oil prices.
India's trade deficit is likely to widen to USD 300 billion in the financial year 2025-26, even though oil prices are expected to remain moderate, according to a recent report by ICICI Bank.
Global crude oil prices are likely to see downside, weighed down by the de-escalation of the Israel-Iran conflict, soft demand and increasing supply, revealed a latest research report by ICICI Bank.
Crude oil prices are now expected to remain around USD 65 per barrel after US President Donald Trump announced a ceasefire between Iran and Israel, bringing relief to global markets.
In a sharp warning on Monday, US President Donald Trump urged "everyone," including businesses and individuals, to keep prices in check, cautioning that the rising costs could "play into the hands of the enemy."
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.
Roughly 20 per cent of global oil and a significant portion of natural gas pass through the Strait. Europe imports oil and liquefied natural gas (LNG) from Gulf states--Saudi Arabia, Qatar, UAE-- much of which travels through the Strait. If Iran blocks it, global oil prices would spike, a
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.
Indian airlines are facing renewed pressure on profitability as escalating tensions in the Middle East threaten to push global crude oil prices to USD 100 per barrel, according to a report by Nuvama.
The US Federal Reserve on Wednesday decided to keep benchmark interest rate unchanged at a range of 4.25 to 4.5 percent, amid ongoing trade policy shifts and growing pressure from President Donald Trump, The Hill reported.
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).
Israel's surprise airstrikes on Iranian nuclear sites have rattled global energy markets, sending oil prices soaring and raising concerns about wider regional instability.