Economy · India
Crude Oil Prices Surge Amid Geopolitical Tensions, Analysts Adjust Forecasts
Brent crude oil prices surpassed $102 per barrel, driven by geopolitical tensions including those in the Hormuz Strait and US-Iran conflict. Amidst this surge, Kotak has raised its crude oil forecast for FY27 to $90 per barrel, while also suggesting that Indian Oil Marketing Companies (OMCs) are cushioned against price spikes. Separately, an analysis indicates a potential 54% upside for ONGC as Brent crude remains above $100. A government report suggests that these geopolitical tensions and high crude prices may fuel imported inflation in India.
How outlets across the spectrum covered it
L 0 C 2 R 0
- Centre (2): The Financial Express, The Tribune
- International (2): Gulf News, Reuters