Oil prices rise above $112 amid market volatility

Global markets have experienced a downturn as oil prices surpassed $112 per barrel. This surge in energy costs is expected to impact fuel prices at the pump, potentially driving up retail inflation.

In India, the crude oil import bill saw a significant increase, rising 47% to $15 billion in September. These developments coincide with China's markets entering bear territory and ongoing discussions regarding the effectiveness of GIFT City as an investment channel.