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The Economic Times

Economy / The Economic Times

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How wooden barrels shaped liquid history from oil to feni

Iran's planned oil toll through the Strait of Hormuz will generate significant revenue, a consequence of the 19th-century US decision to standardize oil measurement in 42-gallon barrels. This historical practice, born from early oil extraction in Pennsylvania, continues to influence global trade, demonstrating the enduring legacy of barrel technology.

12 Apr 2026 9:59 am