New Delhi, June 14 -- Crude prices are unlikely to revert to pre-Gulf war levels of $65/barrel, Prabhudas Lilladher has said, as geopolitical uncertainty and supply-chain disruptions keep oil near $92-95/bbl in FY27.

The brokerage expects the shock to widen India's import bill, inflate subsidies and put an upward bias on the current account deficit, even as demand is expected to take a hit over the coming months.

"We believe crude prices are unlikely to revert to pre-Gulf war conflict levels of USD65/barrel. The second level impact of high crude prices and supply chain disruption is likely to impact demand over coming months," Prabhudas Lilladher said in its June 12, 2026 report.

It pegged the average oil price for FY27 at $92-95/bbl, ...