Oil Trade

Policy prescription: MoF's economic review presents a realistic assessment

One clear message from the West Asia conflict is the need to build buffers of key inputs, and this should not be limited to oil and gas

Oil shock 2026: Milder than the 1970s but reshaping India's energy outlook

The decade of the 1970s provides us the reference point. The world experienced big jumps in prices of crude oil in 1973 and 1979

Iran again tightens grip on shipping in Strait of Hormuz with fresh attacks

Traffic in the strait has all but halted as Iran renews its attacks, striking two vessels on Wednesday; more than 300 ships linked to Iran have passed through the strait since the war began

Indian refiners pay for Iran oil in yuan via ICICI Bank, says report

Indian refiners use yuan via ICICI to settle rare Iranian oil purchases under US waiver, as sanctions and payment hurdles complicate trade

US rules out renewing exemptions from sanctions on Russian, Iranian oil

The United States on Wednesday ruled out granting any further exemption from sanctions for the purchase of Russian or Iranian oil. US Treasury Scott Bessent announced at a press conference at the White House here. "We will not be renewing the general license on Russian oil, and we will not be renewing the general license on Iranian oil. That was oil that was on the water prior to March 11, so all that has been used," Bessent told reporters here. On March 5, the US issued a 30-day sanctions waiver to India, permitting it to buy Russian oil despite sanctions imposed over the Ukraine war. A few days later, the US extended the sanctions waiver to a few other nations. The waiver from sanctions expired on April 11.

Iran threatens to disrupt Gulf trade in response to US blockade of Hormuz

The commander of Iran's joint military command on Wednesday threatened to halt trade in the Gulf region if the US does not lift its blockade on Iranian ports. No vessels have made it past US naval forces during the first 48 hours of the blockade, according to the US Central Command. Even so, US President Donald Trump said the war in Iran was "very close to over" in an interview that aired Wednesday. Trump also claimed that China has agreed not to provide weapons to Iran as reports circulate that Beijing has considered transferring arms. China's Foreign Ministry has repeatedly denied in recent days that the country is providing any form of military support to Iran. Separately, Treasury Secretary Scott Bessent warned on Wednesday that the US is preparing to ramp up economic pain on Iran by levying secondary sanctions on financial institutions that do business with the Middle Eastern nation. Bessent called the measure the "financial equivalent" of the bombing campaign. Meanwhile, ...

US-sanctioned tanker turns back to Strait of Hormuz, day after Gulf exit

US Central Command said no ships managed to pass through the blockade in the first 24 hours, adding that several vessels were instructed to turn back toward Iranian ports

JNPA says ops efficiency maintained amid global supply chain uncertainties

JNPA says it has maintained operational efficiency despite global supply disruptions, with improved container dwell time, steady cargo movement, and strong performance indicators in FY26

Why Donald Trump's Hormuz blockade is as much about China as Iran

If US enforces the blockade, the Iranian economy will suffer an enormous blow on top of the war destruction and will need to start shuttering oil wells in next few days as its storage tanks fill up

HPCL issues rare tender seeking LPG tanker to load from Russian port

Hindustan Petroleum Corporation Limited seeks LPG cargo from Russia as Hormuz disruption deepens supply crisis, forcing India to diversify sourcing beyond the Middle East

21 hours in Pakistan: How Vance tried and failed to end a war he opposed

JD Vance leaves Pakistan without a deal as US-Iran talks collapse, deepening uncertainty over ceasefire and escalating tensions in the Strait of Hormuz

Chinese oil tankers join line to test hormuz exit amid US-Iran ceasefire

A successful crossing is not yet guaranteed, as several vessels have turned back at the last moment and there has been little change in traffic over the past day

Gulf nations explore oil routes beyond Strait of Hormuz amid Iran war

Amid rising Iran tensions, Gulf nations are reportedly exploring pipelines and new trade corridors to reduce dependence on the Strait of Hormuz

Red Sea tensions could push Brent to new cycle high in April, says analyst

A broader escalation-including the potential closure of the Red Sea chokepoint by Yemen's Houthis-would likely push both Brent and WTI to new cycle highs

Traders bet $580 million on oil before Donald Trump's post on Iran talks

Traders reportedly placed $580 million in oil bets minutes before Donald Trump's post on Iran talks, triggering sharp moves in crude and stocks and raising questions over the timing of the trades

LNG crunch may stoke inflation, slow global growth after Qatar hit: Analyst

The damaged LNG trains represent a structural hole in global supply that no amount of diplomatic goodwill can close before the 2026-27 winter

How the Iran war's oil shock is giving Russia a $150 million daily boost

As the Iran war disrupts Gulf oil exports, higher prices and rising demand from India and China are delivering Russia an estimated $150 million a day in additional revenues

Ships must seek nod to cross Hormuz, warns Iran's Revolutionary Guards

IRGC Navy chief Alireza Tangsiri said vessels crossing the Strait of Hormuz must obtain Iran's permission, criticising ships hit in recent attacks and dismissing US escort assurances

Iran targets ships, Dubai airport, oil facilities amid rising economic woes

Iran fired upon commercial ships on Wednesday and targeted Dubai International Airport, escalating a campaign of bottling up the oil-rich Persian Gulf as global energy concerns mounted and American and Israeli airstrikes pounded the Islamic Republic. Iran's response to the surprise Israeli and US bombardment that started 12 days ago has upended trade routes, choked supplies of fuel and fertiliser coming out of the Gulf and threatened air traffic through one of the world's most-travelled regions. Both sides have dug in, hoping to outlast the other. Iran's new supreme leader, Ayatollah Mojtaba Khamenei, was wounded at the start of the war - on the day when his father and predecessor, Ayatollah Ali Khamenei, was killed in an Israeli airstrike, an Israeli intelligence assessment has found. An Israeli intelligence official and a reservist with knowledge of the assessment spoke on condition of anonymity because they were not authorised to discuss the matter with the media. They gave no ..

Hormuz crisis may push Brent toward $100 amid US-Iran conflict: Analyst

The "war premium" has pushed Brent crude toward the $100 per barrel threshold, reigniting stagflation ary fears that central banks thought they had conquered