Commodities & Forex
Oil stays above $100 as Houthi attacks hit Saudi targets
Brent near $108 keeps pressure on India's import bill and the rupee.
Crude briefly eased on Monday after the US waived some sanctions on Russia, then climbed again as Houthi attacks on Saudi targets revived supply worries. US crude rose more than 2% to about $103.70, and Brent traded around $108.
For India, which imports most of its oil, sustained prices at this level raise the import bill and feed into inflation and pressure on the rupee.
India imports most of its crude, so every sustained rise lifts the import bill, inflation and pressure on the rupee. Oil marketing companies, airlines, paints and tyre makers are usually the most affected.
Why it mattersOil is the single biggest outside risk for Indian markets right now. Oil marketing companies, airlines, paints and tyres are usually the most sensitive sectors.
Written with AI assistance by TotalMarket. Based on the sources linked in this article; key facts and data should be checked against the original sources. This article is for information only and is not investment advice.
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