State-owned Indian refiners suspend crude loadings from Iraq after tanker attacks escalate risks in the Strait of Hormuz.
India’s largest state refiners, Indian Oil Corp. and Mangalore Refinery & Petrochemicals, have suspended crude shipments from Iraq due to heightened risks in the Strait of Hormuz. The decision follows a series of attacks on commercial tankers, making the route too perilous for fully laden vessels carrying up to 2 million barrels of oil.
The move reflects growing concerns over security in the world’s most critical oil chokepoint, which handles about one-fifth of global crude supplies. Indian refiners had previously relied on Iraqi crude for a significant portion of their imports, but recent disruptions have forced a reevaluation of supply chains.
No immediate market reaction was reported, though the suspension could tighten global oil supplies if other refiners follow suit. The Strait of Hormuz remains a flashpoint amid regional tensions, with no clear resolution in sight.