Indian refiners face Middle East crude delays amid U.S.-Iran disputes
Indian oil refiners are running into delays getting their usual crude shipments from the Middle East, thanks to rising geopolitical tensions.
BPCL and IOC have both been hit, with BPCL missing out on four cargoes from Saudi Arabia, the UAE, and Kuwait in August 2026.
Most of these shipments travel through the Strait of Hormuz, which is now riskier because of ongoing U.S.-Iran disputes, making things trickier for India, a country that relies heavily on Middle Eastern oil.
Urals crude now about $2 premium
On top of that, Russian oil flows have also come under pressure because of Ukrainian attacks, and Urals crude is now priced at a premium of about $2 a barrel, compared with a discount a few weeks ago.
Indian refiners usually plan ahead to keep costs down, but lately they've had to scramble for last-minute deals just to fill the gaps.
Even though they've locked in cargoes for October, these disruptions show how vulnerable India is as the world's third-biggest oil consumer.