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Oil Industry News

Oil on the boil again Impact on sectors
Friday, 23, Oct 2009


Crude prices are once again on an upward spiral leading to fears about the impact on the margins of companies in various sectors.Analysts tracking markets say any further increase could lead to inflation rising at a faster pace. As a consequence,stocks in sectors like fertiliser, textiles, pharma, automobile, tyre, paints and aviation could be affected if the surge continues.However, the strong rupee will act as a countervailing force which may ensure that their cost of raw material does not spin out of control.

But should crude go beyond $100 a barrel from the levels of $80/barrel, there could then be some real cause for concern, feel analysts.Crude oil prices have more than doubled from their 52-week low levels.If the price of crude oil continues to increase and if the government decides to pass on the additional cost to consumers, it is expected to lead to an increase in inflation at a much faster pace compared to the anticipated level of 6% by March 2010.



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