Indian refiners hire tankers to cross Strait of Hormuz amid oil shipping disruption
- Indian oil refiners are hiring tankers themselves to transport crude oil through the Persian Gulf and secure supplies.
- The move gives refiners more control over shipping costs, routes and delivery schedules amid geopolitical tensions.
- Some recent Iraqi crude purchases are on a free-on-board basis, meaning Indian buyers arrange the ships and transportation.
- Increased oil movement through the Strait of Hormuz has pushed Indian refiners to change how they manage crude deliveries.
Source: economictimes.indiatimes.com
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