News Capsule: Crude Oil Prices Likely to Stay Elevated Amid West Asia Conflict
03-Apr-2026 12:00 PM
News Capsule: Crude Oil Prices Likely to Stay Elevated Amid West Asia Conflict
★ Crude oil prices are expected to remain high due to ongoing tensions in West Asia. Supply disruptions through the Strait of Hormuz, which handles around 20% of global oil flows, are supporting prices. Currently, crude is trading above $90 per barrel.
★ Production cuts by Gulf nations and war-related disruptions are impacting nearly 10% of global supply. At the same time, pressure on Russian exports is adding to market uncertainty.
★ On India’s Multi Commodity Exchange of India (MCX), crude prices for April are expected to trade between ₹8,800 and ₹10,500 per barrel, while in the international market, prices may range between $92 and $115 per barrel.
★ High volatility in the oil market this month, with supply concerns likely to keep prices elevated.