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    OIL PRICE TODAY

    Oil Price Today (April 20): Crude oil jumps 6%, nears $100 again despite ceasefire hopes. What’s happening?

    Oil prices surged over 6% on Monday. Tensions flared around the Strait of Hormuz after the U.S. and Iran traded accusations of ship targeting. President Trump stated American forces seized an Iranian cargo ship. Iran responded by refusing further peace talks. The conflict has disrupted global oil flows. Experts predict continued price volatility and structurally higher prices.

    So what is the real oil price right now?

    The Iran crisis highlights the complex reality of oil pricing, differentiating between physical and financial markets. While financial markets anticipate future resolutions, physical markets reflect immediate scarcity and soaring costs due to disrupted shipping and increased freight expenses, leading to significant price disparities globally.

    US extends waiver allowing India and other countries to buy Russian oil

    The Donald Trump administration has issued a short-term waiver allowing countries to continue buying sanctioned Russian oil loaded on ships until May 16, aiming to stabilise global energy prices amid the US-Israeli war on Iran.

    US move on Russian oil waiver adds pressure as Iran war strains energy markets, India engaged in talks: Sources

    India faces a tougher energy market as the US will not extend waivers for Russian oil imports. This decision impacts countries already struggling with the Hormuz crisis. Russia has assured India of continued energy supplies, including crude oil, LPG, and LNG. India's oil imports from Russia have significantly increased, making it a key market for Moscow.

    Traders place $760 million bet on falling oil ahead of Hormuz announcement

    Just ahead of pivotal updates concerning the Strait of Hormuz and Iran, lucrative oil trades totaling millions were executed, raising eyebrows among U.S. officials. Such timely trades have prompted a thorough investigation into several oil futures transactions made right before key policy changes, with the U.S. Commodity Futures Trading Commission now scrutinizing the details of these deals.

    How 50 days of the Iran war led to the loss of $50 billion worth of oil

    Global oil markets have lost over 500 million barrels since the Iran conflict began, worth nearly $50 billion. Supply disruptions across the Gulf have tightened inventories and hit exports sharply. Despite partial ceasefire signals and Strait of Hormuz reopening, analysts expect recovery to be slow, with lasting energy market shocks.

    The Economic Times
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