Crude rises 40% in 2019: How will it impact markets and macros?11:00 AM IST
Brent crude oil rose above $75 per barrel for the first time in 2019 on Thursday in the wake of tightening US sanctions on Iran. As Brent crude prices have surged nearly 40% in 2019, it is is expected to impact India’s economic growth and hurt business growth this year. Elevated oil price increases the risks of fiscal slippage, greater inflationary pressures and and lowers the likelihood of an interest rate cut by the RBI. Mint's Nasrin Sultana explains how high crude prices may upset macro economy and corporate earnings.
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