With oil traders forecasting crude oil to rise to $100 a barrel by the end of the year, Indian refiners are considering cutting back their imports and relying more on cheaper crude already stored in inventories, according to industry executives. Benchmark Brent crude oil futures surged 2 percent on Monday to over $80 a barrel as markets have tightened ahead of the start of sanctions by the United States on Iran, with commodity merchants Trafigura and Mercuria predicting $100 oil by the end of 2018. The soaring oil prices are occurring at the same time emerging market currencies, such as India’s rupee, are under pressure. That combination means Indian crude imports are 47 percent more expensive this year in rupee terms. […]