Indian Oil, MRPL cancel Iraqi crude liftings as Strait of Hormuz risks rise
Indian Oil Corporation and Mangalore Refinery and Petrochemicals have cancelled planned Iraqi crude cargoes amid renewed US-Iran tensions and security concerns around the Strait of Hormuz. The disruption raises near-term sourcing and supply-risk signals for India’s fuel retailers.
Indian Oil and MRPL cancelled planned Iraqi crude liftings amid Strait of Hormuz security risks. The disruption threatens crude supply flows to Indian refiners and their fuel-retail networks, with Iraqi imports falling sharply since the US-Iran conflict began.
Why this matters
The cancellations follow commercial LPG and ATF price cuts from July 1 as oil eased, after June commercial LPG hikes, adding a new crude-sourcing risk to India’s fuel-price outlook.
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