Oil close to $95 a barrel amid Hormuz route concerns
Business
Oil prices are sticking close to $95 a barrel this Tuesday, after a recent more than 4% jump sparked by worries over the Strait of Hormuz, a vital route for global oil.
Ongoing tensions in West Asia and uncertainty around U.S.-Iran talks have people concerned about possible energy supply hiccups.
India risks 4.8% inflation, 6.3% growth
Higher oil costs are squeezing fuel-heavy sectors like airlines, even as US stocks hit new highs.
For India, experts warn that if crude stays expensive, everyday prices could climb and economic growth might slow down.
One report suggests inflation could reach 4.8% and GDP growth may dip to 6.3% if high prices continue (plus the rupee could take a hit if these tensions drag on).