Global oil prices have risen sharply as peace talks between major nations remain stalled, particularly around the Strait of Hormuz—one of the world’s most critical oil supply routes.
The ongoing conflict has tightened global energy supply, pushing crude prices above $100 and raising fears of prolonged inflation. For countries like India, which depend heavily on oil imports, this could widen trade deficits and strain fiscal balances.
Economists warn that if the situation continues, it may slow global growth and impact corporate earnings across sectors.
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