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$120 crude oil scare is back & India has plenty at stake

Goldman Sachs has warned Brent crude could rise above $120 a barrel if disruptions in the Strait of Hormuz persist. For India, which imports most of its crude oil, a sustained oil price rally could increase the import bill, weaken the rupee, fuel inflation, widen the current account deficit and raise petrol and diesel prices.

21 Jul 2026 10:16 am