Kathmandu. The price of crude oil has once again crossed $ 100 per barrel in early trading today. <\/p>\n
China has halted fuel exports. China is a major exporter of refined petroleum products in the world. The US is also considering deploying more troops to the Middle East. This has raised concerns that tensions with Iran will increase and further disrupt energy supplies in the region. <\/p>\n
Brent crude oil prices rose nearly 5 percent to $103 a barrel after China’s announcement. Crude oil prices have been rising for three consecutive sessions as international markets monitor fuel supply shortages from China and rising geopolitical risks in the Middle East. China began a week-long holiday on Thursday. However, major refineries were not allowed to export fuel to areas other than Hong Kong and Macau. <\/p>\n
China’s ban on liquefied fuel exports has raised concerns about global fuel supplies. Beijing banned fuel exports to Iran in March after the U.S.-Israeli war began. The ban was eased in July. China then began to manage the shipment of diesel, petrol and jet fuel on a monthly basis. <\/p>\n
Meanwhile, according to media reports, the US is sending a third aircraft carrier and up to 10,000 more troops to the Middle East. President Donald Trump is believed to be considering resuming attacks on Iran after the US midterm elections. These developments come at a time when crude oil supplies from the Middle East have largely returned to pre-war levels. <\/p>\n
However, markets are worried that this recovery may not last without a permanent agreement to end the conflict. The rise in crude oil prices raises the risk of inflation. Central banks can raise interest rates to control inflation. Banks in the US and Japan have already raised interest rates. The RBI’s MPC is also meeting next week. Where the repo rate is likely to increase. \u2013 Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. The price of crude oil has once again crossed $ 100 per barrel in early trading today. China has halted fuel exports. China is a major exporter of refined petroleum products in the world. The US is also considering deploying more troops to the Middle East. This has raised concerns that tensions with Iran […]<\/p>\n","protected":false},"author":16,"featured_media":260212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45044,45159],"tags":[],"class_list":["post-318174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/318174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=318174"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/318174\/revisions"}],"predecessor-version":[{"id":318175,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/318174\/revisions\/318175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/260212"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=318174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=318174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=318174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}