Strait of Hormuz uncertainty chokes crude imports: India’s oil stock down 15% since US-Iran war; here’s what it means

US-Iran war and the indefinite closure of the Strait of Hormuz has led to India’s crude oil inventories declining by around 15%. This decline is since the US-Iran conflict erupted in late February, as refiners continued operating at steady processing levels despite lower import volumes, according to estimates from commodities analytics firm Kpler.

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