Oil Prices to Surge Past $80: US-Russia Tensions Fuel Fears
Oil market experts have warned of a looming surge in Brent crude prices, potentially exceeding USD 80 per barrel in the coming months. This prediction, shared with ANI, cites escalating tensions between the United States and Russia as the primary driver.
The escalating geopolitical friction is expected to significantly disrupt global oil supply chains. This uncertainty is already impacting market sentiment, leading to speculation of higher prices.
Experts highlighted the fragile nature of the global oil market, particularly its vulnerability to geopolitical shocks. Any further escalation could trigger even more dramatic price increases.
This potential price hike carries significant implications for India, a major oil importer. Increased fuel costs could impact inflation and the overall economic outlook, necessitating proactive measures from the government.
