New Delhi, May 23 (IANS) Global oil prices climbed on the last day of trading week after Iran cast doubt on market hopes for a near‑term agreement with the United States.Brent crude rose 0.94 per cent to $103.5 per barrel, while US benchmark WTI gained 0.26 per cent to $96.60 a barrel, reversing part of Thursday’s selloff losses that had pushed both benchmarks to their lowest in nearly two weeks.Iran’s Foreign Ministry spokesperson said Tehran could not say an agreement with Washington was…
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New Delhi, May 21 (IANS) After Iran demonstrated that it can exploit its geographical advantage to use the Strait of Hormuz as a chokepoint and monetise transit through the narrow waterway by charging a fee on ships, the trend appears to be spreading, with Indonesia sending a signal that it is contemplating similar steps to raise revenue from the Strait of Malacca.Critical sea trade passages are no longer deemed safe and neutral. Instead, they are increasingly viewed as assets that can be regula…