West Asia Tensions Send Crude Oil Prices Soaring to Four-Month High

Crude oil prices have reached a four-month high of USD 108.77 per barrel due to escalating tensions in West Asia.

The situation has deteriorated significantly, with the United States and Iran at the forefront of the conflict, severely disrupting global energy corridors and triggering regional military mobilisations.

Brent crude prices have surged over 12% in the past week as renewed tensions raise concerns about energy supplies and the stability of key energy corridors.

Economist Sunil Sinha warned that sustained higher oil prices could put pressure on India's economic growth by increasing inflation, import costs, and risks to the current account.