Crude inventory hits 1-year high on stronger imports

India's crude oil reserves have surged to a near one-year peak, reaching 104 million barrels by June's end. This rebound follows a significant drawdown in the preceding months, driven by strong import volumes that replenished stocks. Current reserves can sustain approximately 21 days of consumption, easing concerns over supply disruptions, particularly with the Strait of Hormuz transit now more stable.

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