Guwahati: International crude oil prices have fallen back to levels last seen before the West Asia conflict that began in late February 2026, offering a welcome reprieve for India’s macroeconomic outlook and policymakers. Brent crude, the global benchmark, was trading at about USD 72.60 per barrel, below the highs reached during the conflict-driven spike.
Brent had surged to USD 126.41 per barrel in April amid heightened geopolitical tensions and fears of supply disruption linked to the Strait of Hormuz. The recent retreat marks a sharp reversal of those wartime gains, easing pressure on global energy markets.
WTI crude, the US benchmark, also eased, trading at USD 69.23 per barrel at the time of filing this report and reversing most of the conflict-period increases. Market participants point to improving stability in the Middle East and reduced concerns over supply chokepoints as key drivers of the decline.
Following the earlier rise in international crude, oil marketing companies raised petrol, diesel and LPG prices in several tranches, squeezing household budgets and adding to inflationary pressures. With international crude now lower, attention has shifted to whether domestic retail fuel prices will be rolled back to levels seen before the conflict.
“Crude oil prices have retreated sharply as improving stability in the Middle East and diminishing concerns over supply disruptions have led to a steady unwinding of geopolitical risk premiums,” said Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealthtech firm.
Analysts say the fall in crude prices has improved India’s macroeconomic outlook by easing import costs and reducing inflationary risks, but they caution that the ultimate benefit for consumers will depend on whether price relief is passed through by fuel retailers and on government tax and policy decisions.
Original Source: https://www.guwahatiplus.com/international/crude-oil-prices-return-to-pre-west-asia-conflict-levels-india-fuel-prices-remain-unchanged
Category: International
Tags:
Publish Date: 2026-06-27 19:09:00
