India's Inflation Likely Hit 5.4% in September as Oil Costs Bite

India’s inflation is estimated to have accelerated to 5.4% in September, up from 4.82% in August, on the back of soaring oil prices and energy and food costs, a Reuters poll of economists showed on Thursday. The forecasts of the 41 economists surveyed by Reuters ranged from 4.9% to as much as 5.9%. Apart from food and beverage inflation, “we are also beginning to see clearer evidence of energy prices spilling over into other parts of the ‌CPI, rather than just transport,” ANZ economist Dhiraj Nim told Reuters. Accelerating…

Market Context

Global crude oil markets remain sensitive to a combination of macroeconomic signals, OPEC+ production policy, and geopolitical developments across key producing regions. Brent crude and WTI serve as the primary price benchmarks, with spread movements reflecting regional supply-demand imbalances and refinery demand shifts.

Energy traders and analysts closely monitor inventory data from the U.S. Energy Information Administration (EIA), which releases weekly petroleum status reports that frequently move markets. Rising inventories typically signal demand weakness or oversupply, while draws support price recovery.

What to Watch

Analysts and traders will be watching upcoming EIA inventory reports, OPEC+ output decisions, and macroeconomic indicators — particularly U.S. Federal Reserve policy signals and China demand data — for directional cues on crude prices in the near term.