The $100 Oil Club: What's Behind India's Record Crude Prices? The recent surge in crude oil prices has pushed India's average import price above $100 per barrel for the first time since May.
This trend is unlikely to reverse anytime soon, according to experts. Several factors are contributing to the record prices. One key factor is the ongoing hostilities in the Middle East.
The re escalation of tensions between the United States and Iran has led to increased uncertainty and volatility in global oil markets.