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India’s Crude Import Bill Surges as Hormuz Shipping Rates Soar
India’s crude oil import bill has surged as the Iran‑related conflict has restricted Middle Eastern supply, lifted benchmark crude prices…
AI Summary
India’s crude oil import bill has surged as the Iran‑related conflict has restricted Middle Eastern supply, lifted benchmark crude prices and caused freight rates on the Strait of Hormuz to quadruple, while insurance costs for a single voyage have reached unprecedented levels.
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