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Commodities

Saudi Pipeline Disruption Sends Brent Crude Prices Soaring Above $107

Guavy AI Editorial Team
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A disruption in Saudi Arabia's East-West pipeline has pushed Brent crude prices above $107 a barrel, impacting Indian oil marketing companies (OMCs) like Hindustan Petroleum Corporation Limited (HPCL).

The sudden closure of the pipeline due to drone strikes has resulted in around four percent of global oil supply being disrupted, leading to a surge in freight rates and longer shipping voyages.

Indian OMCs are facing severe marketing margin compression as domestic retail fuel prices remain capped despite escalating landed crude costs. HPCL is highly vulnerable to these rising costs as it absorbs under-recoveries due to the price caps.

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