09 January, 2020
3 Min Read
Syllabus subtopic: Effect of policies and politics of developed and developing countries on India's interests, Indian diaspora.
Prelims and Mains focus: about the geopolitical tensions between U.S. and Iran and its impact on India’s economy
News: The prices of crude oil constituting the Indian basket has been increasing since October and is likely to exceed $70 a barrel this month on escalating U.S. Iran tensions.
What is the reason behind this increase in oil prices?
Impact on India’s economy
Source: The Hindu
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