Archive · 23 Jul 2026
Brent Crude Hits $100, Raising India's Energy Costs
Brent crude, a type of oil, has reached $100 per barrel, which is its highest price since May.
This is happening because there are problems in places like the Strait of Hormuz, the Red Sea, and the Black Sea, which are making it harder to get oil.
This is causing India to pay more for oil, shipping, and insurance.
The price of oil in India has gone up a lot in the last 19 days.
The Reserve Bank of India thinks India has been handling these problems well, but the higher oil prices could still cause financial problems for the country.
Brent crude reached $100 a barrel on July 23, its highest since May 22.
Supply disruptions in the Strait of Hormuz, Red Sea, and Black Sea are tightening oil supplies.
India's crude import costs have surged 36.6% in 19 days.
Rerouting and higher insurance costs could add $2-4 per barrel to India's landed crude cost.
India's crude import bill reached $49.8 billion in April-June, up 61% year-on-year.
- Who
- India, Brent crude, Houthi militants, Saudi Arabia, Iran, Kazakhstan
- What
- Brent crude price hits $100, raising India's energy costs
- When
- July 23
- Where
- Strait of Hormuz, Red Sea, Black Sea, India
- Why
- Supply disruptions and attacks on oil tankers
Supply Disruptions
Economic Impact
Supply Disruptions
Supply Disruptions
Disruptions in the Strait of Hormuz, Red Sea, and Black Sea are tightening oil supplies.
Economic Impact
These disruptions are raising India's crude, freight, tanker, and insurance costs.
Economic Impact
Supply Disruptions
The rise in Brent crude prices is increasing India's fiscal pressures.
Economic Impact
The Reserve Bank of India believes India has navigated external uncertainties well.
- Brent Crude Price
- $100 per barrel
- Indian Basket Price
- $93.19 per barrel (as of July 22)
- Freight Cost Increase
- 30-50%
- Insurance Premium Increase
- 200-300%
- Crude Import Bill (April-June)
- $49.8 billion