Brief by Shorts91 NewsDesk / 01:02pm on 02 Aug 2025,Saturday Business
Global crude oil prices are projected to surge to $80–82 per barrel amid escalating tensions between the U.S., Russia, and India. President Donald Trump has issued a 12-day ultimatum to Russia to end its Ukraine offensive or face 100% secondary tariffs on nations trading with Moscow. Analysts warn this could disrupt global oil flows, especially with Russia exporting 5 million barrels per day. Brent crude has already climbed from $72.07 to $76, with forecasts reaching $100–$120 if Russian oil is squeezed out. While India may avoid supply shortages due to diversified imports, retail fuel prices could spike. OPEC+ output delays and tight spare capacity may worsen short-term volatility. (PC: NDTV & Geology)
