Energy

Burst of Attacks in Gulf Heightens Fears Over Fragile Energy Trade - nytimes.com

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DW NOTE

The Strait of Hormuz has been effectively closed since late September — one ship through versus the usual 85 per day — yet Brent is down 15% from recent highs and WTI trades below $90. Either the market has priced in a six-month closure without panic, or it hasn't priced it in at all.

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The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they buy from abroad in U.

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Burst of Attacks in Gulf Heightens Fears Over Fragile Energy Trade - nytimes.com

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