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Asian crude importers see the early return of Iranian supply amid the Russia-Ukraine conflict as the only way to cool soaring oil prices that would prevent demand destruction and ensure the fragile regional economic recovery from the pandemic remains intact. The market, however, is unduly worried about one step forward and two steps backward in ...
Brent crude oil prices breached $139 per barrel in early trade on March 7 due to the possibility of a ban on Russian oil exports as well as delays in the U.S.-Iran deal, which has been further complicated by the war in Ukraine.
For every 10% increase in crude prices, WPI in India increases by 0.9% - 1%: S&P Global Platts
For every 10 per cent increase in crude oil prices, the wholesale price index in India increases by 0.9 per cent - 1 per cent and the consumer price index by 0.4 per cent - 0.6 per cent.
The dramatic sprint of crude oil toward $100/b is prompting Asian importers to rethink supply strategy as well as their fiscal roadmap, which could result in an aggressive recourse to strategic reserves, changes to fuel subsidies and taxes, and ...