Energy

Oil Steadies With Focus on Hormuz Shipments and Vessel Attacks - Bloomberg.com

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DW NOTE

Oil "steadying" is a curious frame when the Strait of Hormuz has been closed for 220 days and global supply is down 6% year-on-year. Brent at $100 isn't stability — it's 15% below peak despite a supply shock that would have sent prices to $150 in any prior decade. The market has priced in permanent disruption and moved on.

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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 Steadies With Focus on Hormuz Shipments and Vessel Attacks - Bloomberg.com

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