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Commodities

Oil Prices Soar Above USD 108 Amid Disruptions in Strait of Hormuz

Guavy AI Editorial Team
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Oil
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New Delhi [India], September 14 (ANI): Oil prices surged to over USD 108 per barrel on Monday, causing concerns about the rupee, inflation, and corporate margins. Analysts expect a risk-off market reaction due to the ongoing disruptions in the Strait of Hormuz.

Market analyst Vipin Dixena stated that 'With Brent crude moving above USD 108 and Asian equities coming under pressure, I would expect Indian markets to begin Tuesday with a clear risk-off bias.'

Vipin Dixena added that the key issue for India is not just the 3% rise in crude prices but whether oil remains above USD 100 for an extended period. If this happens, it can put pressure on the rupee, inflation expectations, and corporate margins.

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