📈 Stocks & Economy🇮🇳 India
Oil Prices Spike as Iran-Israel Ceasefire Cracks — India's Fuel Bill Is About to Climb
Yahoo! Finance·Monday, 8 June 2026
Iran fired missiles at Israel for the first time since April's ceasefire, sending oil prices sharply higher. The 100-day-old Iran war now looks shakier than ever, with both sides ignoring calls for restraint. Global oil markets reacted instantly, with futures jumping on fears of supply disruption.
Why It Matters
India imports about 85% of its oil, so when global crude prices rise, petrol and diesel costs follow. A sustained oil spike means higher inflation and a bigger hole in India's trade deficit.
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