Brent crude is back above $100 a barrel as geopolitical tensions keep oil markets on edge. Here is how the oil spike affects India and your money.

The latest trigger came from China, where refiners suspended most October fuel exports on Beijing’s direction, tightening Asian fuel markets. Brent rose to $100.36 a barrel on Thursday.

Behind that sits a bigger risk: the US-Iran conflict and disruptions around the Strait of Hormuz, a critical waterway for global energy. Analysts say Middle East tensions, Russian refinery disruptions and low inventories are all squeezing supply.

India imports a large share of its crude, so higher oil means a bigger import bill, pressure on the rupee, higher transport costs and margin pressure for companies in paints, chemicals, autos and aviation.

For households, costlier crude can eventually show up in fuel prices, cooking and transport costs, and overall inflation. The government has said it is watching near-term risks to inflation and capital flows.

The key question analysts are asking is duration: a short spike is manageable, but sustained high prices would tighten corporate costs and the fiscal math.