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Oil boils again: Rising Middle East tensions put pressure on these sectors

Updated : January 09, 2020 06:39 AM IST

Over the last year, the price of oil has jumped nearly 25 percent according to Refinitiv data, raising costs for companies across the economy and leaving less money in the pockets of consumers.
In 2019, crude oil prices made a jump of 36 percent after the US and China waged a tariff war against each other.
Most sectors are affected by the spike in crude oil prices, however, the core businesses that see the immediate effects are aviation, oil marketing companies, paint, cement, and FMCG (fast-moving consumer goods).
Oil boils again: Rising Middle East tensions put pressure on these sectors

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