Barrels to the rescue: Why crude hasn’t hit the $200 mark yet
When the Strait of Hormuz tightens, many are bracing for $200 a barrel of oil. More than three months have passed, and the nightmare scene still has not appeared.The disruption removed more than 10 million barrels per day of Middle Eastern supply from…
‘Difficult situation’: Government updates LPG supply situation, urges citizens to avoid panic bookings
New Delhi: Public concerns are growing over possible shortage of LPG and other fuels, but the Center has assured that there is no reason to panic. The closure of the Strait of Hormuz disrupted oil supplies during the ongoing US-Israeli war. The…
WATCH: Video shows huge fire after tanker explodes off the coast of Basra, Iraq
An explosion in the Persian Gulf off the coast of Basra, Iraq, killed at least one person and set two oil tankers on fire on Wednesday, with officials suspecting it was caused by an attack.Reuters reported that Iranian ships carrying explosives may have…