Indian Oil Plans Ship Purchases as Crude Freight Hits $10 Amid Iran-US Tensions
Indian Oil Corporation plans to acquire its own crude oil and LPG carriers due to rising crude freight costs reaching $10 per barrel amid shipping disruptions in the Strait of Hormuz caused by Iran-US tensions. This move comes as India expands crude imports, with the UAE becoming a major supplier, and refineries increasingly processing Russian crude amid volatile freight costs.
Moneycontrol.com·



