Oil prices up due to West Asia conflict, watching situation carefully: Puri

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Oil prices up due to West Asia conflict, watching situation carefully: Puri - Business Standard

Quick Summary:

With global oil prices flaring due to widening conflict in the Middle East, India is watching the situation carefully and is confident of navigating any challenges it may pose, Oil Minister Hardeep Singh Puri said on Monday.

But supplies are not impacted and India, the world's third largest oil consuming and importing nation, is confident of being able to navigate any situation.

International oil prices have flared to over USD 78 per barrel from about USD 70 per barrel, as the market waited to see if Israel would retaliate against Iran for a missile attack last week.