Crude oil stays above $108, keeping pressure on import bill

Brent crude held above $108 a barrel on Monday, keeping imported-inflation and corporate-cost concerns in focus for Indian markets.

Brent crude stayed above $108 a barrel on Monday, keeping India's import bill and inflation worries in the spotlight. Prices had briefly dipped on reports that President Trump waived some Russia-related sanctions, which could allow higher Russian fuel exports, before rebounding.

For India, the world's third-largest oil importer, elevated crude feeds directly into the fuel and current-account deficit calculus. Analysts flagged crude as a key variable for market sentiment alongside earnings and the rupee.

Traders are now watching OPEC+ signals and any movement on sanctions policy for the next directional cue. A sustained rally could pressure margins across aviation, paints and chemicals.