Oil prices rose Monday after the United States and Iran threatened fresh attacks on energy facilities in the Middle East, including power plants, signaling that the conflict may yet escalate.

India has kept retail fuel prices stable for now by relying on refinery absorption, strong inventories, and diversified crude supplies despite a sharp surge in its oil basket price.

The Middle East war is set to bring bumper profits for oil and gas producers just as the industry calls for the current windfall tax to be scrapped

Uncertainty in the Middle East is pushing global oil prices higher, with the national average for gas now climbing toward four dollars a gallon. AAA reports the current average at $3.93, while Texas

Tight supply and limited storage mean prices could surge to $150–$200+ per barrel, with some analysts warning of extreme spikes if disruptions persist.

By Bharath Rajeswaran March 23 (Reuters) - Indian equities dropped and the rupee slid to a record low on Monday, mirroring a broad risk-off move across Asia as an escalating Middle East conflict kept oil prices elevated and deepened concerns over growth and earnings outlook.

The US president says "very good and productive conversations" have been held on "a complete and total resolution of our hostilities in the Middle East".