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5 million tonnes of India's oil reserves lie uninsured

Sunday, June 16, 2019, 11:32 AM

India is unable to secure insurance cover for about 5 million tonnes of crude oil reserves kept in caverns for any exigency, which also include supplies from sanctions-hit Iran. Global reinsurers are unwilling to provide cover fearing adverse action against them for the breach of US sanctions, two persons with direct knowledge of the matter said requesting anonymity.
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Price action suggests a major rally is likely in crude oil prices

Saturday, May 18, 2019, 8:00 AM

Crude oil-prices traded flat with some volatility within a-broad-range after a surprise drawdown in US crude stockpiles, but an escalating US-Chinese trade fights limited oil's gains as investors were worried about the global outlook for energy demand. WTI and Brent were set for weekly-loss after US escalated its tariff war with China by increasing levies to 25% for $200 billion worth of Chinese goods.
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Donald Trump's knack for getting into fights may send crude oil out of control

Friday, April 26, 2019, 7:59 AM

The biggest threat to President Trump's hopes for low-gasoline-prices is his growing entanglement in politics of OPEC nations. The White House plans to choke-off oil-exports from Iran without triggering a spike in prices largely by getting Saudi Arabia, the only OPEC member with significant spare capacity, to make-up the shortfall. The US crackdown may slash Iran's exports by as-much-as 800,000 barrels a day.

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