Indian crude oil basket reaches $128.70, inflation implications
after close1 source ↓written by the desknot a recommendation
- a barrel
- $128.70
- on July 2
- $67.16
- in August
- 4.8%
- in October
- 25 bps RBI rate hike
The Indian crude oil basket surged to $128.70 a barrel, its highest since April 2026, nearly doubling from $67.16 on July 2. This spike raises concerns over retail inflation, which hit 4.8% in August, and increases speculation of a 25 bps RBI rate hike in October.
Market participants are wary of the impact on equities, especially amid geopolitical tensions affecting oil supply and declining global inventories. Immediate inflation effects may be limited if domestic fuel prices remain stable.
Not investment advice. For informational purposes only.