Energy

Oil prices climb above $100 on Strait of Hormuz attacks, Gulf storm threat - Yahoo Finance

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DW NOTE

The Strait of Hormuz has been effectively closed since June, with commodity vessel transits down to 3 per day from a normal 15. Brent broke $100 yesterday at $102.28; today's "climb above $100" is a headline rewriting a price that's already there. Gulf storm or not, the supply shock is five months old.

Read the full story at Yahoo Finance →

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 prices climb above $100 on Strait of Hormuz attacks, Gulf storm threat - Yahoo Finance

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