Anonymousabout 2 hours ago
The escalation of conflict in the Middle East has driven Brent crude above $110 per barrel, threatening to push India's annual oil import bill past $175 billion and widening its current account deficit to over 3% of GDP. With forex reserves declining by $30.5 billion in March 2026 alone and the rupee hitting record lows, India faces its most significant energy stress test since 2022 — but structural changes in reserves, renewable capacity, and import diversification give it more tools to absorb the blow than in previous oil crises.