Iran War Escalation Sends Oil Prices Soaring, Threatening India's Economy

Crude oil has surged past $107 a barrel as the Iran-US conflict intensifies, with experts warning prices could hit $115—a direct blow to India's import bill.

Confirmed Facts

• Iran's IRGC downed a US MQ-1 drone over the Strait of Hormuz, escalating tensions.
• Tanker rates to India have spiked 150%, bunker fuel costs up 50%, and insurance premiums jumped 20%.
• Wholesale inflation rose to 9.92% in August, fueled by food and fuel price...