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Distant Thunder

The oil market feels the shocks of the Gulf flare-up

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FOR THE UNION PETROLEUM and Natural Gas Ministry, the US missile attack on Iraq could not have come at a worse time. Even before the war broke out, its import bill estimate had gone awry-at 30 million tonnes for the year, imports are likely to be 4 million more than that estimated earlier. Now, with the oil prices rising, the import bill will rise even further.

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