Among other sectors staring at a negative impact from higher crude oil prices are tyres and cement
If the US killing of Iranian general Qasem Soleimani on Friday leads to conflict between Washington and Tehran, oil facilities could be targeted in Gulf states
Brent crude futures soared to a high of $70.27 a barrel at 0222 GMT, up $1.67, or 2.4 per cent, from Friday's settlement.
US President Donald Trump has issued a threat to impose sanctions on Iraq amid escalating tensions with Iran in the Middle East.
A $1/barrel change in crude oil price raises the import bill by Rs 6,328 crore, shows govt estimate
Oil was also boosted by optimism that trade talks between the world's two largest economies will support demand
All other base metals, fell by up to 12.3 per cent in 2019. Steel was almost flat, while thermal coal and natural gas were also among big losers.
Threat of poor weather conditions looms. Cold wave and pest attack could damage standing Rabi crops and elevate prices across the board in 2020
After falling to $57.77 a barrel on October 2, crude oil prices bounced back to trade almost at three-month high of $67.50 a barrel on Friday
The International Energy Agency said that most of that cut had already been implemented already
Commodity outlook and stock recommendation by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls Securities
Brent crude futures settled at $62.44 a barrel, down 86 cents, or 1.4 per cent
Oil minister Dharmendra Pradhan said late on Monday that India is open to importing oil from Russia.
Concerns about slower economic growth and oil demand due to the fallout from the 16-month trade dispute between the world's two biggest economies have weighed on crude futures
The shift from scarcity to abundance has been brought about in an astonishingly short time by America's "fracking" revolution, leading to massive benefits for consuming countries
The domestic unit on Friday marched higher for the seventh straight session to close at 70.92, up 22 paise.
Brent futures fell 45 cents, or 0.7%, to $61.57 a barrel, while US West Texas Intermediate (WTI) crude fell 85 cents, or 1.5%, to $55.81
Oil prices surged more than two per cent on the news, which raised new supply concerns with tensions still high after last month's attacks on two Saudi crude facilities
Rates for crude and oil products tankers have shot up as traders avoided ships linked to COSCO Shipping Tanker (Dalian) Co, Ltd, after the sanctions were announced
It may be noted that oil prices surged more than 15 per cent to their highest level in nearly four months after an attack on Saudi Arabia's oil facilities