Energy

G7 nations to release oil, fuel from reserves - Northwest Arkansas Democrat-Gazette

Source: Northwest Arkansas Democrat-Gazette

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DW NOTE

The G7 is releasing strategic reserves to cap prices while the Strait of Hormuz stays closed and Ukraine targets Russian refineries — demand-side rationing dressed up as crisis management. When central banks buy bonds to fix yields, we call it intervention; when governments sell oil to fix prices, we call it coordination.

Read the full story at Northwest Arkansas Democrat-Gazette →

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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G7 nations to release oil, fuel from reserves - Northwest Arkansas Democrat-Gazette

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