Global Brent crude prices are hovering near $97-$100 a barrel amid intensified West Asia tensions and Red Sea disruptions, with potential LNG supply constraints also contributing to the rally. The surge is weighing on Indian markets, pushing the Nifty lower and weakening the rupee as investors priced in higher crude costs and margin pressures for Oil Marketing Companies. Analysts warn that Brent hovering around the $100 mark could widen India’s current account deficit and lift inflation toward about 4.1%, given the country’s heavy oil import dependence. Forecasters expect prices to remain elevated into 2026, driven by ongoing Hormuz disruptions and OPEC+ supply discipline, though threats from global slowdown and strategic reserve releases could cap gains. If higher crude persists, India could face a higher import bill, potential constraints on growth, and continued pressure on the rupee, requiring careful policy and macroeconomic management.