Quote on US & IRAN Deal by Prashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings, ICRA Ltd
Below the Quote on US & IRAN Deal by Prashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings, ICRA Ltd
"In case of a successful US-Iran deal and subsequent normalisation of the vessel traffic through the Strait of Hormuz, crude oil and natural prices would ease. However, beyond the immediate price action, crude prices could take six months to one year to normalize to pre-war levels given that almost 10-11 million barrels per day of production has been shut in West Asia besides which some facilities have suffered damages. Additionally, removal of sanctions on Iranian crude would be positive for India given the geographical proximity as well as higher credit period offered historically, if the same terms continue."
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