November 13, 2026: Global crude oil prices are likely to remain under pressure towards the end of the year amid easing geopolitical tensions in West Asia and improving prospects for peace, a development that could provide relief to India’s import bill, support the rupee and improve sentiment in domestic equity markets, market experts said.

Rupee may strengthen towards 90 per US dollar,” SP Sharma, Chief Economist, ASSOCHAM, told ANI.

Sharma said West Texas Intermediate (WTI) crude oil was currently trading at around USD 87 per barrel in the global market.

He said India’s economic fundamentals remained resilient despite the pressure exerted by the crude oil shock on the rupee and inflation. He noted that the economy was expanding at over 7 per cent, exports were registering strong growth, manufacturing activity was advancing at a double-digit pace, and agriculture continued to provide support.

He added that the services sector remained a dependable growth engine, reinforcing India’s economic resilience.

According to Sharma, improving prospects for peace in West Asia, supported by developments involving the United States, had strengthened hopes of easing geopolitical risks.

He said moderation in international crude prices, alongside robust domestic fundamentals and renewed foreign capital inflows, could support a recovery in the currency and equity markets.

(Source: Business Line)