IRAN-ISRAEL TENSIONS MAY IMPACT INDIA’S OIL TRADE ADVERSELY.
Why in the news?
Iran-Israel conflict escalation raises concerns over oil prices, supply disruptions; India’s heavy import dependence amplifies economic impact.
source:scribd
About the Geopolitical Impact on Oil Trade:
- Escalation in Iran-Israel conflict may elevate crude oil prices due to increased risk premiums and concerns over supply disruptions in West Asia.
- India, as the world’s third-largest crude oil consumer heavily dependent on imports, faces economic sensitivity to oil price fluctuations.
- Rising tensions have already caused international oil prices to surge, with potential for further volatility and prices exceeding $100 per barrel if supply disruptions occur.
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