Since the country is heavily dependent on oil imports to the tune of over 80% for meeting its domestic demand, it remains susceptible to global crude price shocks
Surge in crude oil prices not only increases the burden on retail fuel consumers in India but also presents the Narendra Modi-led central govt with a dilemma over whether or not to intervene
US crude inventories fell by 1 million barrels last week to 428 million barrels
For many investors, it's all about backwardation. As oil supplies have tightened, near-term contracts have become pricier than later-dated ones
CAD may be a minor problem; only excise duty cut to impact govt revenue