US EditionRussian Crude Back in Focus for India as Iran War Squeezes Supply
India may boost Russian crude imports to offset disruptions in Strait of Hormuz shipments, with 40-45 days of crude reserves as supply buffers, experts say.
- Late Saturday, the Ministry of Petroleum & Natural Gas and refiners considered increasing Russian crude imports after the IRGC told vessels the Strait of Hormuz was closed.
- India’s high import reliance — over 88% — and roughly 2.5–2.7 million bpd transit through the Strait of Hormuz, mainly from Iraq, Saudi Arabia, UAE, and Kuwait, highlight vulnerability.
- Having cut Russian purchases in recent months, Indian refiners consider nearby Russian cargoes in Asian waters, which Ritolia said 'could also be absorbed relatively quickly if required'.
- Officials could ask refiners to curb exports as Brent crossed USD 80 per barrel, with inventories totaling about 100 million barrels, covering roughly 40–50 days of needs.
- Policy tools and diversified sourcing reduce the odds of sustained outages, as India could draw on SPRs and deepen contracts with the US, West Africa and Latin America, Kpler says.
22 Articles
22 Articles
Why the Strait of Hormuz matters: How global oil supply could be hit and how vulnerable India is
Oil shipments through the crucial energy corridor of the Strait of Hormuz have dropped sharply amid the Israel–Iran conflict. The disruption at this key international waterway, through which nearly 20 per cent of the world’s oil supply passes, has reportedly led to around 700 tankers being stranded on either side of the narrow strait. Shipowners are avoiding the volatile region, raising concerns over crude oil and liquefied petroleum gas (LPG) s…
Shipping stocks surged early on Thursday, fueled by expectations of higher shipping rates following the closure of the Strait of Hormuz. This is interpreted as a surge in buying sentiment fueled by expectations of higher shipping rates amid the closure of the Strait of Hormuz following US and Israeli airstrikes on Iran. As of 9:33 a.m.
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