New Delhi, April 23 (IANS) Indian oil marketing companies (OMCs) have begun relying on their commercial crude inventories as supply chains tighten following the closure of the Strait of Hormuz amid escalating geopolitical tensions in West Asia, according to a report on Thursday.The disruption linked to the ongoing US-Israel conflict involving Iran has constrained supplies from the Gulf region, while sharply increasing freight charges, insurance premiums and transit durations, NDTV Profit reporte…
Latest Indian oil marketing companies News & Updates
New Delhi, March 12 (IANS) Indian oil marketing companies (OMCs) should be able to absorb average crude prices of up to around $90 per barrel over the medium term, supported in part by stronger refining margins, even as escalating tensions in West Asia raise concerns over global energy supply routes, a report said on Thursday.According to an analysis by CareEdge Ratings, the geopolitical situation notes that hostilities around the Strait of Hormuz have led to a sharp rise in crude prices since l…