Rising crude prices: Firms stare at input cost pressure
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Update time : 2022-02-24 18:04:06
The sharp surge in global crude oil prices is worrying Corporate India, as it will further push up input costs for sectors like cement, steel, infrastructure and paints. Operating margins of companies are already under pressure and with Brent crude oil price hovering around $100 per barrel, margins will remain under pressure. Crude prices are at their highest level since 2014 and estimates are that they could remain elevated in the near term. The surge in prices have come on the back of fears of disruption in supplies from Russia, on reports that President Vladimir Putin had ordered troops into Ukraine. The prices are up 47.55% since last year, according to Bloomberg data.
