India is vulnerable to oil shocks because it imports around 88% of its crude oil. When Brent crude rises sharply, as it did toward $100 in September 2026 amid…
Arab members of OPEC embargoed oil exports to nations seen as supporting Israel in the Yom Kippur War. Global crude prices moved from roughly $3 to about $12 a barrel wi…
The Iranian Revolution disrupted Iran's oil production and exports, and global crude prices roughly doubled over 1979-80. The second shock in six years reinforced how in…
Iraq's August 1990 invasion of Kuwait pushed oil from about $17 to over $40 a barrel within months. This spike raised India's import bill and cut remittances from Indian…
Crude oil touched an intraday record of about $147 a barrel in July 2008 amid a global commodity boom, before crashing later that year in the global financial crisis. In…
The US shale boom and OPEC's decision not to cut output to defend market share sent Brent from above $115 in mid-2014 to around $27-30 by January 2016. Lower crude helpe…
US WTI crude futures for May 2020 delivery briefly settled at about -$37.63 a barrel on 20 April 2020, as COVID-19 lockdowns collapsed demand and US storage capacity nea…
Russia's invasion of Ukraine in February 2022 pushed Brent to around $139 a barrel in March 2022, its highest since 2008. India responded by sharply ramping up discounte…
An escalating US-Iran-Israel conflict through 2026 repeatedly threatened tanker traffic through the Strait of Hormuz, which carries roughly a fifth of the world's seabor…
CNG/LPG, hybrid and electric vehicles together accounted for 41.95% of India's passenger-vehicle registrations in August 2026, edging past petrol/ethanol at 40.85%, per…
Brent crude traded near $98 on 7 September 2026, close to $97.5 a barrel and a six-week high, after the US and Iran exchanged strikes near the Gulf - the US targeting Ir…
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