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GRM: Pain threshold for oil is USD 120

The escalating conflict in Iraq pushes the oil price up day by day, and the bunker price follows suit. But the oil cost could just be the smallest problem faced by the shipping industry.

Carriers around the world are now starting to feel the military conflict in Iraq for real as they have to pay a higher price for their fuel with each passing day.

According to Global Risk Management the conflict in Iraq, combined with the still-unresolved conflict in Ukraine, has increased the price of heavy fuel oil by five percent, or USD 30 per mt.

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