The ongoing US-Iran War, joined by Israel, may have far-reaching consequences on the Indian economy and pose major challenges to its diplomacy. Now, the oil bill is sure to soar as the crude prices is most likely to increase. Immediately after the beginning of the attack on Iran, the crude oil prices in the international market jumped about 2%. However, analysts believe that if the war goes on for a longer period, the crude oil prices may cross the $100 per barrel limit. If this waterway is blocked, not only will the flow of crude oil stop, putting the oil prices on fire, but also the international trade will suffer.

Source: dna February 28, 2026 14:37 UTC