{
  "id": 6386662,
  "title": "India’s crude oil import basket prices breaches $100/bbl",
  "url": "https://urgent.news/2026/09/09/indias-crude-oil-import-basket-prices-breaches-100-bbl",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-09T04:50:46.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/commodities/indias-crude-oil-import-basket-prices-breaches-100bbl/article71445641.ece"
  },
  "original_language": "en",
  "account": "India's crude oil import basket prices have breached the $100 per barrel mark, according to recent data. The price for the Indian basket rose to $100.75 per barrel on Monday, up from an average of $90.19 per barrel in August 2026. This marks the highest level since June. Experts believe the surge is due to ongoing conflict in West Asia, which has heightened geopolitical uncertainty. While there are no major supply disruptions currently, the price increase means India's crude oil import bill will rise further. A $10 per barrel increase in crude prices adds about $13-14 billion to the import bill. In April-July of fiscal year 2027, India imported 81.9 million tonnes of crude oil, worth $63.4 billion, compared to 81.5 million tonnes worth $40.5 billion in the same period last year. The net oil and gas bill also increased to $57.8 billion from $40.3 billion. Brent crude averaged $83.41 per barrel during July, up from $85.47 in June and $70.99 in July 2025. For the week ending September 4th, Brent rose 2.8 percent week-over-week to $96.3 per barrel, up 12.5 percent over three months. The Indian crude basket rose 3.8 percent week-over-week to $99.4 a barrel, up 15.4 percent over three months.",
  "summary": "The current price is the highest since June; the Indian basket crude price averaged $82.04 per barrel in July against $83.22 during June",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}