By Admin 
Oil Prices Surge Impact: Due to the continuous deadly attacks by America and Israel on Iran, the fear of interruption in global energy supply is increasing. Due to this, as soon as the Asian market opened, oil prices rose by 10 percent.
The prices of both Brent crude and Nimex light sweet crude rose sharply during early trading on Monday. At one time, Brent increased by more than 12 percent to reach the level of about $ 82 per barrel, which is slightly more than the closing price of $ 73 on Friday. Similarly, American crude increased by about $ 8 or 12 percent to about $ 75 per barrel. At the same time, West Texas Intermediate increased by almost 8 percent to $72. Amidst all this, the big question now arises that what will be the impact of increasing oil prices in the international markets on India? Let us know about this in details.
India need not worry
Experts believe that despite the increasing tension around Iran and the Strait of Hormuz, there is no hope of any immediate interruption in oil supply to India. There is no need for India to panic at the moment because Indian refiner companies currently have enough stock of crude oil to meet their needs for at least 10 days. They also have fuel stock for 5-7 days. In such a situation, even if the supply stops for a short time, the work can be carried on.
Besides, India also has Plan B in case of emergency. Under this, India can increase the supply of oil from different countries of the world like America, West Africa, Russia, Latin America. This means that India is no longer dependent only on the Middle East for oil, but with increasing trade partnerships with other countries, India’s energy security has become stronger than ever.
Experts say, “Under pressure from America, India had reduced the purchase of oil from Russia, but if there is any problem in the Middle East, we can turn back to Russia. The question is only about the transit time. It takes 5 days for a ship from the Middle East to come to India, whereas it takes at least a month to come from Russia, so it is a question of placing the order on time.” Apart from this, as already mentioned, India also has the option to use the Strategic Reserve, which contains inventory to meet the requirement for one week.
India’s foreign exchange reserves
India currently has foreign exchange reserves of about 720-730 billion dollars. In such a situation, it has the power to handle sudden jump in oil price or instability in rupee. The country’s strong foreign exchange reserves are no less than a security blanket for it. Of course, rising oil prices are challenging, but India’s economic foundation is so strong that it has the ability to overcome any such loss.
The GST collection of Rs 1.83 lakh crore in February 2026 is a proof of this, which shows that economic activities in the country are progressing at a rapid pace and domestic demand is high. With this, global shocks can be dealt with.
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