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Brent crude surged past $100 per barrel on Thursday, up more than 5% in a single session, as the Middle East conflict continues to escalate. The move raises fresh inflation risks for oil-importing economies and puts pressure on fuel costs globally.
Brent crude jumped over 3% to above $78 a barrel and WTI hovered near $74, extending last week's 5.4% gain, as US-Iran tensions drove traders to price in a geopolitical supply risk premium.
Brent crude climbed to $78.80 a barrel and WTI rose to $74.26 as renewed US-Iran war tensions pushed traders to price in a supply-disruption risk premium. For oil-importing countries like India, a sustained rally above $78 could widen trade deficits and pressure fuel prices.
Iran has declared the Strait of Hormuz shut, with ship tracking data confirming a sharp fall in transits through the waterway that carries roughly 20 percent of global oil supply.
The Indian rupee dropped to a record low of 95.55 against the US dollar as tensions around the US-Iran ceasefire pushed oil prices higher. Since India imports most of its crude oil, rising prices increase dollar outflows and weaken the currency, raising risks of higher fuel and consumer prices.
Oil price forecasts are moving higher as markets price in the risk of a prolonged supply disruption tied to the conflict involving Iran. Iran is a major OPEC producer, and a sustained outage would tighten global crude supply. Higher oil prices could raise import costs and fuel prices in India and other large importers.
Brent crude held above $110 per barrel through an eighth straight session of gains, while MCX crude oil fell 0.60% to ₹9,426 per barrel on April 29. The divergence between global and domestic pricing signals currency and exchange-rate effects at play. Analysts weigh in on where prices go from here.
China surpassed the United States to become India's largest trading partner in FY26, with bilateral trade reaching approximately $151 billion. The trade deficit widened to $112.16 billion as imports from China hit $131.63 billion, even as Indian exports to China jumped 36.66%. The structural imbalance intensifies press
Tag
Brent crude surged past $100 per barrel on Thursday, up more than 5% in a single session, as the Middle East conflict continues to escalate. The move raises fresh inflation risks for oil-importing economies and puts pressure on fuel costs globally.
1mo ago · 3 min · Markets
Brent crude jumped over 3% to above $78 a barrel and WTI hovered near $74, extending last week's 5.4% gain, as US-Iran tensions drove traders to price in a geopolitical supply risk premium.
1mo ago · 4 min · Markets
Brent crude climbed to $78.80 a barrel and WTI rose to $74.26 as renewed US-Iran war tensions pushed traders to price in a supply-disruption risk premium. For oil-importing countries like India, a sustained rally above $78 could widen trade deficits and pressure fuel prices.
1mo ago · 3 min · Markets
Iran has declared the Strait of Hormuz shut, with ship tracking data confirming a sharp fall in transits through the waterway that carries roughly 20 percent of global oil supply.
2mo ago · 4 min · Global Affairs
The Indian rupee dropped to a record low of 95.55 against the US dollar as tensions around the US-Iran ceasefire pushed oil prices higher. Since India imports most of its crude oil, rising prices increase dollar outflows and weaken the currency, raising risks of higher fuel and consumer prices.
3mo ago · 3 min · Markets
Oil price forecasts are moving higher as markets price in the risk of a prolonged supply disruption tied to the conflict involving Iran. Iran is a major OPEC producer, and a sustained outage would tighten global crude supply. Higher oil prices could raise import costs and fuel prices in India and other large importers.
4mo ago · 1 min · Global Affairs
Brent crude held above $110 per barrel through an eighth straight session of gains, while MCX crude oil fell 0.60% to ₹9,426 per barrel on April 29. The divergence between global and domestic pricing signals currency and exchange-rate effects at play. Analysts weigh in on where prices go from here.
4mo ago · 1 min · Markets
China surpassed the United States to become India's largest trading partner in FY26, with bilateral trade reaching approximately $151 billion. The trade deficit widened to $112.16 billion as imports from China hit $131.63 billion, even as Indian exports to China jumped 36.66%. The structural imbalance intensifies press
4mo ago · 1 min · Global Affairs
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