New Delhi, Sept. 3 -- Crude oil is back in focus as fresh hostilities in West Asia revive concerns over supplies from the region. Brent crude is trading above $95 per barrel after US military strikes on areas along Iran's southern coast.

Brent crude has risen around 20% from about $79 a barrel in early July to around $95 currently, reversing the easing seen during a month of relative calm in the US-Iran conflict. Renewed US strikes on Iran on 31 August, followed by Iranian retaliation, have pushed supply disruption risks back to the forefront.

Mint explains the volatile price trend, its impact on oil supplies and what it means for the Indian economy.

Over the past one week, crude prices have traded on a volatile note, in the range of $...