New Delhi, March 12 -- Crude oil prices are back near $100 per barrel level in the international markets as escalation in the US-Iran war continues to cause supply disruptions. While the Strait of Hormuz remains effectively blocked, the situation is likely to get worse, with rising fears of imported inflation in India.

Brent crude oil price surged 6.6% to $98.04 a barrel, while the US West Texas Intermediate (WTI) crude futures jumped 6.37% to $92.80. However, oil prices are still below the recent high of near $120 a barrel touched earlier this week.

One of the key sectors that is facing the heat of higher energy prices is the paints sector. Paint companies have earlier managed to pass on any inflation via price hikes in the long run. I...