Why higher crude oil prices are more problematic for India now

The rebound in oil prices was swift last week. However, it must be said that Brent crude prices at about $65 per barrel are still 7% higher than on 13 September, the day before Saudi Arabia’s oil infrastructure facilities were attacked.

Analysts say that an increased geopolitical risk premium is built into the price now.

It’s important to note that these disruptions have happened at an inopportune moment. Considering that the current increase in prices is driven by supply side issues, the pain could be more this time around.