Saved by the barrel: Why crude hasn’t hit the $200 mark

[ad_1] When the Strait of Hormuz tightened, many braced for $200-a-barrel oil. More than three months on, that nightmare scenario is still nowhere in the picture.The disruption, which removed more than 10 million barrels a day of Middle Eastern supply from the market, had fuelled warnings of crude prices soaring to as much as $200 […]

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Watch: Video shows huge blaze after blasts hit oil tankers off Iraq’s Basra coast

[ad_1] At least one person has died and two oil tankers caught fire in the Persian Gulf off the coast of Basra, Iraq on Wednesday, after explosions that officials suspect were caused by an attack.Reuters reported that explosive-laden Iranian boats may have struck the vessels, citing preliminary findings from an Iraqi-led investigation into the incident. […]

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