Aramco stops crude supplies to India; replacement barrels costlier as oil tops $100

India’s crude oil imports from Saudi Arabia have been hit after a pipeline in the Middle East country was shut following attacks from the Houthis. Saudi Aramco has reportedly told Indian refiners that it will suspend crude supplies to them until further notice following attacks on the kingdom’s key East-West pipeline.Although refiners are not expected to face major difficulties in sourcing alternative crude, the bigger concern is the impact of higher oil prices and freight costs.The pipeline was shut late last week after it was allegedly targeted by drones.