📈 Stocks & Economy🇮🇳 India
Oil Tops $95 as US-Iran War Escalates — India's Import Bill Is in Trouble
MarketWatch·Thursday, 23 July 2026
Oil prices hit a six-week high after the US struck Iran for the eleventh consecutive night. President Trump warned the US would bomb Iranian bridges and power plants if Tehran fires on ships in the Strait of Hormuz. Hopes for de-escalation have faded fast.
Why It Matters
India imports over 80% of its oil, so a sustained rise above $95 a barrel directly pushes up fuel prices, inflation, and the cost of everyday goods for ordinary Indians.
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