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Middle East Tensions Stir Oil Markets: Will New Inflation Emerge? Experts Weigh In
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Middle East Tensions Threaten India's Economy: Oil Prices Soar, Inflation Looms
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News18
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07-03-2026, 11:56
Middle East Tensions Threaten India's Economy: Oil Prices Soar, Inflation Looms
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Escalating Middle East tensions between Iran, Israel, and the US are impacting global oil markets.
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India heavily relies on Gulf countries, importing 52% of crude oil, 60% of LNG, and 80-85% of LPG, making it vulnerable to supply disruptions.
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Brent crude prices surged from $76 to $85 per barrel; experts warn of $100+ if the crisis persists, potentially by mid-March.
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Disruption in the Strait of Hormuz, a key shipping route, could severely impact global energy supply.
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Prolonged conflict could trigger a new wave of global inflation, directly affecting India's economy and citizens.
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