Geopolitics

Oil Breach Above $100 Signals Prolonged High-Rate Regimes - The Global Treasurer

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DW NOTE

The headline calls it a breach above $100. Brent is at $97.62 and WTI at $92.52. When commercial shipping through Hormuz has fallen from 85 ships a day to one and oil is still below $100, that's not a supply shock — that's a market that stopped believing in scarcity six months ago.

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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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Oil Breach Above $100 Signals Prolonged High-Rate Regimes - The Global Treasurer

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