Crude oil prices remained firm as geopolitical tensions in the Middle East continued to raise concerns over global energy supplies. Although there has been no major disruption to oil shipments so far, traders remain cautious because any escalation could impact supplies through the Strait of Hormuz.
Higher crude prices are likely to increase India’s import bill and place pressure on inflation. Sectors such as aviation, paints, logistics and chemicals may face rising input costs if oil prices remain elevated for an extended period. Investors are therefore keeping a close watch on developments in the region.
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