Iran joins fray which may also impact the sea routes as well as which may also push up the transport cost along with the cost of insurance. The Higher crude would get distorted with the balance of the trade as well as CAD and hence put pressure on the rupee.
With the surge of crude oil prices, there is a threat of a big grasp of inflation and the international economy over the time again. Also, India, United States, China as well as other key economies are huge importers of the oil and may even see some high level of imported inflation when oil prices stay elevated.
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Tags: international economy,global economy