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India resumes Iraqi oil imports amid Hormuz shipping risks

after close1 source ↓written by the desknot a recommendation

Basrah terminal
19-20 July

Indian state refiners have resumed purchasing Iraqi crude, signaling a renewed effort to secure Middle Eastern oil despite shipping risks through the Strait of Hormuz. Mangalore Refinery and Petrochemicals Limited has chartered the Aframax tanker Jasmin Joy to load crude from Iraq's Basrah terminal on 19-20 July. This marks the first Indian state refiner to do so since the shipping route reopened.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 7 Jul 2026, 16:11 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

MRPL closed +1.0% on the day of the news, from ₹146.49 to ₹147.94; Nifty −2.1% over the same session.

Bulletin at 16:11 IST on 7 Jul 2026. Every change is measured from ₹146.49, the last close before it, on 7 Jul. Nifty 50 is measured over the same sessions.

  • MRPL close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
MRPL closes around the bulletin against the close before the news, with Nifty 50 rebased to it119.13147.72176.31axis spans 48%before the news · 7 Jul146.49Nifty 50MRPLbulletinD0+1+3+51 Jul13 Jul22 JulReference close ₹146.49. 16 sessions from 1 Jul to 22 Jul; the price axis spans 48 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before7 Jul₹146.49basebase
On the day8 Jul₹147.94▲ +1.0%▼ −2.1%+3.1 pp difference
+1 session9 Jul₹149.68▲ +2.2%▼ −1.8%+4.0 pp difference
+3 sessions13 Jul₹164.74▲ +12.5%▼ −0.8%+13.2 pp difference
+5 sessions15 Jul₹157.47▲ +7.5%▼ −1.3%+8.8 pp difference
Gap at the open, % · ₹
▼ −0.1%−0.09 on 8 Jul
Day's range, % · ₹
5.5%≈ 8.0 high to low
Volume on the day
1.38×the 20-session average
Futures OI on the day
—
Futures OI open, lots
—
Futures premium, ₹
—
Puts per call, by OI
—
Max pain
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