Energy

Tanker attacked off Qatar as Iran claims route transporting oil through strait of Hormuz will be ‘closed’ - The Guardian

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DW NOTE

Iran closed the Strait seven months ago. Today it attacked a tanker off Qatar and reminded the world the closure remains in force. The oil market has priced this in — Brent is down 15.7% from recent highs, not up. That's not complacency, it's acceptance that the world has rerouted 99% of the volume that used to move through Hormuz and moved on.

Read the full story at The Guardian →

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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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Sri Lanka's Economic Recovery Underscores the Geopolitics of Debt - IR Insider

India’s Oil Buyers Squeezed by $123 Crude and Weak Rupee

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