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 the market, prompting warnings of crude prices surging to $200 a barrel. … Read more
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 government says citizens should avoid panic booking and save fuel during these uncertain … Read more
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 rammed the vessels, citing preliminary findings from an Iraqi-led investigation into the … Read more