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India government closely tracks global commodities as Russia Ukraine shock hits oil markets
Economy
Published on 24 April 2026
Strategic Petroleum Reserves could be tapped to cool oil spikes
India’s finance ministry says it is closely monitoring global commodity price swings triggered by the Russia Ukraine war, especially pressures affecting crude oil costs. Minister of State for Finance Pankaj Chaudhury added the government supports moves to release from Strategic Petroleum Reserves, aiming to reduce volatility and help calm rising fuel prices in markets.
- Finance ministry is monitoring commodity prices amid the Russia Ukraine war
- Crude oil price spikes remain a major concern
- Government backs Strategic Petroleum Reserves releases to curb volatility
- Aim is to calm market swings and fuel costs
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times