India halts Iraqi oil imports amid Strait of Hormuz risks
pre-market1 source ↓written by the desknot a recommendation
India's major refiners, Indian Oil Corp. and Mangalore Refinery, have suspended crude loadings from Iraq due to escalating risks in the Strait of Hormuz. This decision follows multiple attacks on commercial tankers, making oil transport increasingly perilous. With India relying on imports for over 85% of its oil, this shift could significantly impact crude supply dynamics.
Not investment advice. For informational purposes only.