Crude oil prices could climb to $120 a barrel before cooling off, says SBI's Soumya Kanti Ghosh
CNBC-TV18 1 hr ago·11 Sept 2026, 5:11 am
State Bank of India's Group Chief Economic Advisor Soumya Kanti Ghosh has forecast that global crude oil prices could climb to $120 per barrel before stabilizing. He notes that India is currently paying a premium over the global benchmark, Brent crude. This price pressure is being driven by a combination of factors, including geopolitical tensions and supply constraints.
For investors, this development is significant as it directly impacts India's import bill and consumer inflation. Higher oil prices can strain the country's current account deficit and may force the central bank to maintain a tighter monetary policy stance. This creates a challenging environment for equity markets, particularly for sectors that are sensitive to interest rate hikes and input costs.
Investors should closely monitor the rupee's movement against the dollar. Ghosh warns that if the currency weakens past the 96 level, it could further exacerbate the cost of oil imports. Additionally, the rise in bond yields above the 7% mark signals higher borrowing costs, which could weigh on banking stocks like SBIN. Keeping an eye on these macro indicators will be crucial for gauging the market's direction.
Affected stocks
Bearish1 stock
Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns State Bank OF India (SBIN).
- Category: Economy.
- AI reads the tone as negative (potentially bearish) for the stock.
- Flagged as a high-impact, market-moving story.
Why it matters
This is a high-impact development for State Bank OF India and could move the stock. The tone is negative — watch for downside reaction. Use the price and stock snapshot to gauge how the market is responding.
