Indian refiners expect stable oil supplies despite renewed West Asia conflict. They believe US President Trump will open alternative routes if needed. Strong domestic inventories and Russian crude availability also support this outlook. China's subdued demand has helped keep global supplies comfortable recently. However, a rebound in Chinese buying could pressure prices upward.

Iran conflict boosts U.S. crude imports from Asia to record levels. Crude oil reaching a new all-time high by December 31 at 14.5% YES.

Oil prices increased as President Donald Trump reimposed naval blockades on Iranian ports. Iran retaliated with strikes on United States infrastructure in the region. Brent and…