Iran war: Strait of Hormuz crisis could choke global oil supply within a month, warns Putin

Russian President Vladimir Putin on Monday (local time) warned that the US-Israeli war on Iran has pushed global energy markets into crisis, saying oil flows linked to the Strait of Hormuz could face a complete halt in the coming weeks. He also said Russia remains open to restoring long-term energy cooperation with European nations if…

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Maritime regulator steps in to check ‘opportunistic pricing’ by shipping companies

NEW DELHI: Amid complaints over “predatory and unnecessary charging” by shipping lines, the maritime regulator has invoked power on Monday to seek transparency in pricing as part of efforts to ensure that there is no profiteering.In a circular, DG Shipping has asked the shipping companies and agents to “refrain from predatory, non-transparent and opportunistic pricing…

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India rules out releasing strategic oil reserves after IEA calls to cool prices

India will not participate in the International Energy Agency’s (IEA) proposal to release strategic petroleum reserves to stabilise global oil markets, government sources said on Monday, even as crude prices surge amid the escalating Middle East conflict, reported PTI.The decision comes as G7 nations consider coordinated releases of emergency oil reserves to calm markets after…

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