With the escalation in tensions between the US and Iran threatening to disrupt crude oil trade, Indian oil-marketing companies feel that the phase is temporary and the spike in prices may not sustain over a long period. “Similar concerns were raised during the attack on Saudi Aramco facilities last year, but Saudi Arabia responded maturely and brought things back on track immediately,” M K Surana, chairman and managing director of Hindustan Petroleum Corporation (HPCL), told Business Standard.
Oil prices jumped nearly $3 a barrel and gold and safe-haven bonds rallied on …
Source: Business Standard
