Indirect talks between Iran and the United States have shown positive movement, easing concerns over potential disruptions to shipping through the Strait of Hormuz. Brent crude has fallen to the $67-68 per barrel range as a result, a welcome development for oil-importing economies.
India imports more than 80 percent of its crude oil requirements, meaning cheaper oil could both boost corporate margins and help keep inflation in check in the months ahead, according to economists tracking the developments.
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