Rational Times●
Business

Highest since May

Brent crude closed at $113.17 a barrel on 22 October, up 4% in a day.

Why?

Houthi attacks on Saudi Arabia and threats to shipping in the Strait of Hormuz.

The risk premium

Traders pay more today when supply might be disrupted tomorrow.

Closer to home

India imports most of its crude. Higher prices can push up inflation and weaken the rupee.

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