Oil hits $113, war risks delay in recovery: CEA Nageswaran

Rising oil prices amid ongoing geopolitical tensions may delay economic recovery and create risks beyond the energy markets, said India's Chief Economic Adviser V Anantha Nageswaran. According to him, India's landed crude cost has jumped to around $113 per barrel, reported PTI. The impact is expected across higher energy costs, supply disruptions, increased logistics and a drop in remittances.