Crude oil prices moved higher as renewed tensions in the Middle East raised concerns about possible disruption to energy supplies. Brent crude remained above the $100-a-barrel mark as investors assessed developments involving Iran, Gulf shipping routes and attacks affecting regional infrastructure.
Higher crude prices remain a concern for India because the country imports a large portion of its oil requirement. A prolonged rise in energy costs could increase the import bill and put pressure on inflation, the rupee and fuel-sensitive industries.
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