Crude near $114 keeps pressure on Indian markets
Brent crude near $114-117 a barrel is squeezing Indian markets, lifting the import bill and inflation worries.
Brent crude climbed towards $114-117 a barrel amid escalating geopolitical tensions in the Middle East and concerns about potential disruptions to energy supplies after attacks on top exporter Saudi Arabia by Yemen's Houthis.
For India, which depends heavily on imported crude, sustained higher prices can pressure inflation, corporate margins and the import bill.
The crude surge was the most important factor behind last week's market correction, in which the Sensex lost about 2.15% and the Nifty about 2.36% over the week.
Originally reported by The Hindu BusinessLine. Article compiled by the Deccan Age desk.
