Oil prices slip below $60, offering India a fresh tailwind
Oil prices have slipped below $60 a barrel, offering a fresh tailwind to an Indian economy already growing above 8% with near-zero inflation.
International benchmark Brent fell below $59 on Tuesday amid rising supplies, signs of a weakening Chinese economy, and optimism over a Ukraine peace deal. Prices edged up on Wednesday to trade around $60 after US President Donald Trump ordered a blockade of all sanctioned oil tankers moving in and out of Venezuela, escalating tensions with the country, which accounts for roughly 1% of global oil supply.
