Crude will be expensive if tension increases between Iran-US

  • Rupee will fall; With this petrol can reach 90 rupees liter in India
  • Tension after the death of General Qasim Sulemani, chief of Iran’s elite Quds army, in US attack
  • If Iran retaliates, crude oil rate could reach $ 75-78 per barrel in the current quarter
  • Dollar will also be stronger against other currencies due to being the currency of international trade
  • Crude imports will be costly for Indian oil companies due to increase in crude rate, rupee against dollar

On Friday, the price of Brent crude (crude oil) rose 4.5% to $ 69.23 a barrel after a top Iranian military officer was killed in a US air strike. The rupee also fell 42 paise to end at one-and-a-half month low of 71.80 per dollar. Petrol and diesel prices in India may also increase after the rise in crude oil prices and the rupee falling. According to Kedia Commodity Director Ajay Kedia, if Iran retaliates against the US, the price of crude oil could reach $ 75 to $ 78 per barrel in this quarter. This may cause the rupee to slip to 75 against the dollar. If this happens, the price of petrol can once again reach Rs 90 per liter.