India's Crude Oil Import Price Hits Near $100 Per Barrel Amid US-Iran Tensions

India's crude oil import price has surged to near $100 per barrel, marking its highest level in three months. The Indian crude basket price reached $99.35 a barrel on Wednesday, according to government data, and is expected to cross the $100 mark by Friday due to escalating tensions between the US and Iran.

Global oil benchmarks have also risen sharply, with Brent crude gaining nearly 1% to close at $96.28 per barrel on Friday. The West Texas Intermediate settled at $91.48 per barrel, a gain of over 9% during the week.

The rise in global crude prices is putting pressure on domestic fuel prices, with experts warning that state-run oil companies may seek government approval to increase petrol and diesel prices if international oil prices continue to rise.