· Oil prices have continued their upward march ever since the advent of the fiscal year, with WTI/Brent currently at US$94.6/97.3 per bbl (up 34%/30% FYTD)

· An overall bearish sentiment to demand and US Fed’s hawkish view of the energy markets could keep demand view in check

· Persistently high oil prices affect emerging market economies through impacts on budget/external balances, inflation, and subsequently monetary policies.

· The OMC’s and refineries alike have to duel with the twin impacts of domestic currency’s unending depreciation bouts and surging oil (and petroleum prices) internationally, with the combination of both resulting in a volatile fuel price scenario domestically.

· From the vantage of equity markets, higher oil prices are expected to result in higher earnings for the E&P sector.

Courtesy – AKD