BUZZ-Surging energy prices spell trouble for India and its currency

* India is a big importer of palm oil and imports natgas * Natural gas prices have doubled urn:newsml:reuters.com:*:nL2N3N005Y * Palm oil prices have rapidly risen by 43% urn:newsml:reuters.com:*:nL2N3N0073 * More inflation for RBI to contend with and should weigh INR * Extremely weak INR is already stoking inflation * Next target for long-term USD/INR uptrend 85.42, ultimate target 101.26 * <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ USDINR https://tmsnrt.rs/3OwaeH0 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Jeremy Boulton is a Reuters market analyst. The views expressed are his own) (([email protected]))