Brent Breaches $110 as Iran Says Its Mines Struck Two Hormuz Tankers
Brent crossed $110 a barrel intraday on Wednesday after Iran’s IRGC said its mines hit two tankers using unapproved Hormuz routes, while Houthis claimed strikes on Aramco’s Yanbu site and the Shaybah field. Brent has swung between $97 and $112 this month.
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Nictick — educational context
India imports most of its crude, so every sustained rise in Brent lifts the import bill, fuel costs and inflation. That squeezes margins across aviation, paints, tyres, chemicals and logistics, narrows RBI’s room on rates and adds pressure on the rupee and FII flows.