Economy
Brent Crude Prices Surge Past $100 Amid Middle East Tensions
CNBC2h
THE BRIEF
1
Global oil prices surged past the $100 per barrel mark on Wednesday following escalating military conflicts between the US and Iran in the Middle East.
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The price hike has forced oil companies to absorb losses of approximately ₹5 per liter on petrol and ₹23 per liter on diesel to maintain domestic retail stability.
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Market analysts warn that sustained prices above $100 could trigger inflationary pressure on the Indian Rupee, which fell past 95/USD during the trading session.