Crude surged to a four-year high earlier this month on concern US sanctions on Iran, along with chronic supply losses in Venezuela, could lead to a shortage. Emerging economies, most notably India, are bearing the brunt of the rally, which comes when they’re already contending with currency depreciation and the fallout from trade disputes.
from Times of India https://timesofindia.indiatimes.com/business/india-business/opec-moves-to-calm-oil-supply-fears-as-india-slams-high-prices/articleshow/66175278.cms
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