Oil takes a breather, but is $120/barrel a possibility? 3 risks India should monitor amid Middle East tensions
Oil prices have taken a breather after a sharp 21.74 per cent surge in Brent futures this month (June 2025), driven by geopolitical tensions in the Middle East. While Brent is currently trading at $75.6 per barrel, the possibility of prices testing $120 cannot be ruled out if the Iran-Israel conflict escalates. For India, a net oil importer, rising crude prices pose significant risks to the economy, currency, and markets. Here are three key risks India should watch as tensions simmer in the Middle East, along with insights into whether...