Mumbai, March 9 -- The escalating conflict in West Asia and disruption of flows through the Strait of Hormuz could have significant implications for India and the global economy, potentially pushing crude oil prices higher and adding to inflationary pressures, according to Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities.

Speaking to ANI, Banerjee said the current situation is unusual because it involves a possible supply shock rather than just a price spike.

"Actually, what we are seeing unfold in front of our eyes is something very unique, which has not happened in the last, I would say, at least 50 years, because it happened during the 1970s when we actually have an oil quantity shock," he said.

He noted...