NYMEX Crude Oil trading above 79 USD and this could be negative news for more Crude Oil importing countries

NYMEX Crude Oil trading above 79 USD and this could be negative news for more Crude Oil importing countries.

Crude oil prices increase could slightly increase inflation and prices as shipping and airlines uses fuel. Manufacturing companies like Paints, Plastics, Textiles uses petroleum related products. Inputs costs will increase for Power Generation companies which uses petroleum products