Report flags prolonged pressure on crude prices
A report by brokerage firm Prabhudas Lilladher has said crude oil prices are unlikely to return to the levels seen before the West Asia war, citing continued geopolitical uncertainty and supply risks.
Pre-war level seen as hard to regain
The firm noted that crude was around $65 per barrel before the conflict began, and said the chances of prices moving back to that level are very low as tensions keep pushing prices higher.
India’s import costs expected to rise
With the current trend likely to persist, India’s crude import expenditure is expected to increase in the coming months. The report said India buys about 4.3 million barrels of crude per day, spending around ₹16.81 lakh crore annually; at higher prices, the annual import bill could rise by more than ₹6.53 lakh crore.
Shipping chokepoints add to uncertainty
About 20% of the world’s crude moves through the Strait of Hormuz, where uncertainty remains. The report warned that if the war intensifies and the Bab al-Mandeb region is also affected, supply could tighten further and push prices up.
Refining disruptions may delay normalisation
It also pointed to disruptions affecting refining companies internationally, saying a return to normal operations could take time—until then, elevated prices may persist.
