An Indian-flagged oil tanker transiting the Strait of Hormuz is seen docked in Mumbai. | Photo credit: AFP
TThe conflict in West Asia showed the speed with which geopolitical upheavals spilled over into India’s domestic economy. The head of the International Energy Agency has described the current geoeconomic crisis as more severe than the combined shocks of 1973, 1979 and 2022.
Brent crude rose to $109.03 a barrel after peaking around $120 during the conflict. Domestically, India is expected to slow its economy from 7.4% in FY26 to 6.5% in FY27 with inflation expected to rise from 2.3% to 4.4% due to the impact of disruptions seen in energy supply chains.
Published – 06 May 2026 07:30 IST
