Brent near $90 offers relief on fiscal, inflation fronts
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Brent crude traded at $90.22 a barrel after falling below $90 for the first time since 31 August.
- ✓This drop brings relief to the economy as lower oil costs help control inflation.
- ✓Pant said, “If oil prices remain at this level or correct further, it will be beneficial.”
Story at a Glance
- Category
- Indian Markets
- Reported By
- Livemint
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
At around 6:30pm, Brent crude’s January contract on the Intercontinental Exchange was trading at $90.22 a barrel, down 2.54% from its previous close. Brent had earlier slipped below $90 a barrel for the first time since 31 August. West Texas Intermediate’s December contract on the NYMEX fell 2.06% to $85.07 a barrel.
Brent was around $70 per barrel on 1 February 2026, when the Union Budget 2026-27 was presented. It was trading at $72 a barrel before the war began on 28 February.
“The fiscal impact continues. Due to high oil prices, the initial hit was borne by OMCs, as prices were not increased commensurately. There was, however, some ease as the retail prices were increased (in May). Further, when the government provides compensation or subsidy to OMCs in a bid to provide relief for the impact of high crude prices, then there is a fiscal impact,” Sen added.
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