Crude Oil Prices Expected to Rise in Next 3-4 Months: CLSA Warning for Indian Stocks

CNBC-TV18 reports that CLSA has warned of rising crude oil prices over the next three to four months. According to CLSA, this could support upstream producers such as ONGC and Oil India while putting pressure on downstream refiners including IOC, HPCL, and BPCL. Brent crude has already surged to $96, causing a shake-up in the global bond market.

The prediction of rising oil prices comes amid various market fluctuations, including the EU's backing of Germany after Russia's attack. This could have far-reaching implications for the energy sector and related stocks. It is essential to monitor these developments closely, especially considering the potential impact on downstream refiners.