What Is The New Crude Oil Range? Market Expert Mayuresh Joshi Explains

Crude oil prices remain a key factor influencing global markets and economic outlook. In this discussion, market expert Mayuresh Joshi explains how geopolitical tensions and supply-side pressures have triggered sharp spikes in oil prices, with crude briefly touching nearly $120 per barrel. However, forward market contracts suggest that prices may not remain elevated for long. According to Joshi, futures pricing for the coming months indicates that crude could eventually settle in the $70–$75 range, provided geopolitical tensions ease. If the conflict persists for several weeks, prices could stabilize at a higher band of $85–$90 per barrel. Crude trends are crucial for economies like India, as they directly impact inflation, current account deficit and overall market sentiment.