Prolonged disruptions to Strait of Hormuz could lift Asian spot prices above $19 per million British thermal units, traders said, though that would be lower than a wartime high of $25.
On domestic LPG availability, inter-ministerial panel says public sector oil marketing companies have delivered more than 50 lakh cylinders per day on average since 1 March.
Strikes by Tehran Wednesday caused QatarEnergy losses of up to $20 billion per annum, and wiped out about 17 percent Qatar’s total LNG exports. Qatar is the single largest source of LNG for India.
The resumption of supplies from Sefe is crucial for GAIL, which reported an almost 93% slump in its December quarter profit due to lower gas sales triggered by supply disruptions.
This is the latest phase in the US-China technology competition, which now spans supply chain law, export controls, labour compliance, and semiconductor access.
American objectives are unmet. They neither have muscle nor motivation to resume the war. As for Iran, the regime didn’t just survive, it’s now led by more radical individuals.
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