India’s knock on effects

ICE Brent prompt contract is recovered fully to 68.7 $/b, despite risks of mounting Iranian supplies, which could be delayed by few months, as Iranian and US officials mentioned that there was still significant roadblocks to clear. Indian mobility seems to have bottomed out for May, as mobility data experienced its low point two weeks ago. The impact of the Indian crisis on global markets is mainly reflected through rising petroleum product exports to Europe.