Global crude oil prices have fallen to their lowest levels since before the Iran conflict, with Brent slipping to around USD 72–73 per barrel and US crude below USD 70, effectively reversing the earlier geopolitical risk premium. Despite the global correction, petrol and diesel prices in India have not yet been reduced, as state-run fuel retailers continue to adjust pump prices based on average crude trends rather than daily movements.

Oil prices hit lowest levels since the Iran conflict amid negotiation progress. New all-time high by September 30 at 8.5% YES.

Global oil markets are stabilizing after months of turmoil caused by the Strait of Hormuz closure and war damage. Crude prices have plummeted 42% from their April peak, with Brent…