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The ‘dustbin scam’ refers to the alleged purchase at inflated prices of plastic dustbins to collect biomedical waste in government hospitals, when BJP leader Mangal Pandey was the State Health Minister under the previous NDA regime
IRGC commander says oil flows through US-supervised route in Hormuz are ‘negligible’.
Oil steadied after gaining early on October 1st on uncertainty over the Middle East flow recovery can be sustained. Crude rose for a third month in September, as Washington and Tehran failed to make headway toward a lasting peace agreement that would fully reopen the Strait of Hormuz. Victoria Mitchell, Control Risks’ Senior Analyst for Maritime told Bloomberg’s Abeer Abu Omar on Horizons Middle East & Africa on the oil exports going up. (Source: Bloomberg)
Mediators are trying to facilitate more talks, but Washington signals faith in its pressure tactics.
US and Iranian negotiators are exploring a phased deal that would see Tehran reopen the Strait of Hormuz and Washington lift its blockade of Iranian ports, similar to the memorandum of understanding struck in mid-June. Charles Gorrivan reports on Bloomberg Television. (Source: Bloomberg)
Rob Barnett, Bloomberg Intelligence Senior Energy and Commodities Analyst, joined Bloomberg's Paul Sweeney and Scarlet Fu to discuss the latest in oil. Oil fell below $100, heading for its longest run of declines since June, as robust flows through the Strait of Hormuz and diplomacy around the US-Iran war tamed a recent rally. Brent, the global benchmark, fell as much as 4.2% while West Texas Intermediate futures were down over 5% to trade near $95 a barrel. Satellite data showed that Saudi Arabia’s observed oil loadings from inside the Persian Gulf jumped over the weekend, with the highest number of ships seen at the nation’s main Persian Gulf port since June. It’s a sign the kingdom has pivoted back toward Hormuz after the shutdown of a key cross-country pipeline to the Red Sea earlier this month following drone attacks. (Source: Bloomberg)
Saudi Arabia is ramping up prompt spot sales of crude from outside the Strait of Hormuz following the shutdown of the kingdom’s East-West pipeline, which halted cross-country flows to its Red Sea coast.