Oil has lost almost a fifth of its value this week. For investors worried about inflation and slowing growth, that should be welcome news. It is, up to a point.

The Indian economy is faced with a new challenge in the form of a sharp rise in global oil prices. The country’s crude basket has increased by almost 29% in

Oil prices witnessed a modest resurgence on Tuesday, propelled by opportunistic buying in response to the previous day’s decline. However, the extent of the gains was limited as investors maintained a prudent stance, considering the forthcoming policy determinations from central banks and lackluster economic indicators from China. Brent crude futures advanced by 1.1% to reach $72.64 per barrel, while U.S. West Texas Intermediate (WTI) crude recorded a 0.8% increase, reaching $67.64 per barrel.

Oil prices encountered a modest downturn on Tuesday, reversing the progress achieved the day before. In spite of Saudi Arabia’s declaration of a substantial reduction in production, apprehensions regarding the