Analysts ring the warning bell for USD 100 per barrel oil

CHENNAI: The troubles for the Union government, which is under immense pressure to cut taxes on petroleum products, may increase further since steadily improving prospects for the global economy and their expected impact on global crude oil prices have led industry analysts to ring the warning bell for the return of $100 per barrel oil. Brent crude has already gone from just $37.5 per barrel at the end of October last year to trading at over $75 on Tuesday—a 100 per cent jump in just half a year.