Energy

Middle East oil exports surpass pre-war levels despite tensions, data shows - aljazeera.com

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DW NOTE

The Strait of Hormuz has been effectively closed for nine days, cutting 5.7 million barrels per day from global supply — the largest disruption in oil market history — yet Brent trades at $102, down 13.6% from its yearly high. Either the market believes a reopening is imminent, or it has priced in a demand collapse no one is talking about yet.

Read the full story at aljazeera.com →

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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Middle East oil exports surpass pre-war levels despite tensions, data shows - aljazeera.com

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