Infomerics Chief Economist Warns Oil Prices May Reach $120 Amidst West Asia Conflict

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Oil Could Hit $120 if West Asia Conflict Persists: Infomerics Chief Economist

Representational image (Image: News18)

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News18•07-03-2026, 12:15

Oil Could Hit $120 if West Asia Conflict Persists: Infomerics Chief Economist

•Infomerics Chief Economist Manoranjan Sharma warns crude oil could reach $120/barrel if the West Asia conflict prolongs.
•Oil prices have already surged from below $70 to around $90/barrel since the conflict began.
•Escalating tensions involving the US, Israel, and Iran could further drive up prices, forcing economic projection revisions.
•India's budget and RBI estimates, based on $70 oil, would need revision; deficits and inflation would worsen.
•Higher oil prices risk capital outflows, market volatility, and supply chain disruptions for countries like India.

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