India has confirmed it is sourcing crude oil and liquefied petroleum gas (LPG) from Iran amid the ongoing energy supply disruptions in West Asia caused by war in the region. The Ministry of Petroleum and Natural Gas issued a statement on Saturday addressing rumours of supply problems. “Amid Middle East supply disruptions, Indian refiners have secured their crude oil requirements, including from Iran; and there is no payment hurdle for Iranian crude imports,” it said.


India: Energy Supplies Remain Secured, Says Crude Supply Fully Secured for Coming Months

The Ministry of Petroleum and Natural Gas denied reports that an Iranian crude cargo had been diverted from Vadinar port in Gujarat to China due to “payment issues” and termed them factually incorrect. India imports crude oil from more than 40 countries, the ministry added.

India confirms it is importing Iranian crude and LPG

India used to be a major buyer of Iranian crude and imported significant volumes of Iranian light and heavy grades due to strong refinery compatibility and favourable commercial terms. However, imports ceased in May 2019 after the tightening of sanctions in 2018.

Ship carrying Iranian crude to Indian port in Gujarat reroutes to China

Global markets are on edge after Donald Trump vowed to hit Iran “extremely hard,” triggering a sharp spike in oil prices. Crude surged over 7–9%, while gas prices have already jumped nearly 36% in recent weeks. Investors fear prolonged conflict could disrupt supply routes, pushing fuel costs even higher and deepening global economic uncertainty.


Iran War: Oil Prices Explode After Trump’s Iran Speech 

The war in West Asia between the US, Israel and Iran has caused widespread disruption in crude oil trade, as Iran started attacking facilities in Gulf States and disrupted the trade via Strait of Hormuz. Beyond the obvious products, each gallon of crude oil results in multiple products

Crude oil is Black Gold: Iran war made us understand its importance, the hard way. How each barrel gives products we use daily

China has been preparing for a global energy crisis for years. It is paying off now amid an escalating Iran war, which has pushed global crude prices significantly higher. In this next report we decode China's planning and diversification of energy sources.
Take a look.

China Playing the Long Game Amid the Iran War

The announcement hasn't translated into a cooling of oil prices, which still hover around $100 per barrel, the highest since 2022 and significantly higher than $70 before the start of the war.

Global energy body to release 400 million barrels of oil from reserves as West Asia war triggers energy crisis

The escalating Iran war has now struck the heart of Gulf energy infrastructure. A suspected drone strike triggered a fire at the massive Ruwais Industrial Complex in the United Arab Emirates, forcing authorities to shut down the country’s flagship refinery as a precaution.

The facility is operated by Abu Dhabi National Oil Company and can process around 922,000 barrels of crude oil per day, making it one of the largest single-site refineries in the world. Emergency teams rushed to contain the fire after the strike, though officials say there were no reported injuries.

US-Iran War: Drone Strike Shuts UAE’s Ruwais Refinery As Iran War Hits Gulf Oil 

Government sources say India is in a comfortable position on its energy needs despite rising tensions in West Asia. Officials confirmed that the country currently has around 25 days of crude oil and fuel stocks, providing a cushion against supply disruptions. New Delhi is also in close contact with global energy bodies like OPEC and the International Atomic Energy Agency to closely monitor the evolving situation and ensure energy security.

US-Iran War: Government Sources Say India Has 25 Days of Crude Oil, Fuel Stocks 

If the Strait of Hormuz is disrupted by Iran, countries like Iraq and Kuwait could cut 3.3 million bpd of crude oil production. This risks Gulf crude supply losses and a sharp spike in global oil prices

Iraq, Kuwait could stop oil exports in days; 3.3 million barrels per day of crude supply to be hit if Iran vs Israel-US conflict drags on

Government sources said India has sufficient crude oil reserves for 25 days and adequate petrol and diesel stocks for another 25 days, totaling around 50 days of energy security amid rising global tensions. With volatility in West Asia impacting oil markets, officials emphasized that fuel supplies remain stable and there is no immediate cause for concern. India continues to monitor global developments closely to safeguard energy needs.


India Has 50 Days of Oil Supply Amid Global Tensions: Govt Sources

Global commodities are reacting sharply to rising tensions in West Asia. Crude oil prices are in focus as geopolitical risks threaten supply from the Gulf region, prompting concerns over energy security. Gold continues its upward trajectory, trading above $5,300 per ounce on US exchanges, as investors seek safe-haven assets amid uncertainty. Analysts warn that continued escalation could further disrupt oil exports and impact global markets.

Global Market: Crude Oil Surges as West Asia Tensions Rise | Gold Extends Gains Above $5,300

The Ras Tanura complex, on the kingdom’s Gulf coast, houses one of the Middle East’s largest refineries with a capacity of 550,000 barrels per day (bpd) and serves as a critical export terminal for Saudi crude.

Will oil prices skyrocket? Saudi Arabia shuts its largest refinery after Iran strike

After Israel launched a pre-emptive strike against Iran, the United States also struck Tehran, prompting tensions in the Middle East. The conflict has undermined prospects for a diplomatic resolution to the nuclear standoff between Tehran and Western powers.

Crude oil, fuel shipments via Strait of Hormuz suspended as US-Israel attack on Iran: What next?

While precious metals’ rally indicates rising safe-haven demand, the commodity directly in the line of geopolitical crossfire has been oil. Despite expectations of a deep global oversupply, crude prices have rallied sharply this year. Take a look at this next report for more…


Oil Price Rally Challenges Oversupply Narrative

Russian oil shipments are piling up at sea as diplomatic pressures and sanctions complicate Moscow’s search for buyers. Tankers loaded with crude are facing delays, while global markets react to tightening restrictions and shifting trade alliances.

Russian Oil Piles Up at Sea: Diplomatic Pressures Complicate Russia’s Search for Oil Buyers

US says it will roll back additional 25% tariffs as Indian scale back Russian crude purchases but market data gives US a reality check.

US Says It Will Roll Back Additional 25% Tariffs as Indian Scale Back Russian Crude Purchases

Top 10 assets in the world 2026: With a market value of over US$31 trillion, gold is still seen as one of the safest ways to store wealth.


Top 10 assets in the world by market cap in 2026

As we head into business as usual in 2026, we put the spotlight on how the global energy map is being redrawn. The “battle for oil” is no longer just regional. It is increasingly tied to competition over how oil is priced and paid for globally.

Crude Oil Trade: Is The Petrodollar Dominance Under Threat?

Venezuela’s 303 billion barrels of oil, about 17% of global reserves, make it strategically vital for Donald Trump. The US needs heavy crude for its refineries, wants to curb China’s influence.

Understanding the key factors that make Donald Trump interested in Venezuela’s oil

How Crude Oil Trade is Shifting in 2026

In 2025, crude oil fell over 20 percent to post its deepest annual loss since 2020 on surplus concerns. A punishing supply is expected to weigh on prices this year as well. However, fuel prices at Indian pumps have remained elevated since the government cut petrol and diesel prices in march 2024. In this next report, we dive into why fuel prices haven't come down in the country despite a significant fall in international crude. Take a look.

Why No Change in Indian Pump Price Despite Crude Plunge?

Nigeria Tops Africa’s Crude Export to U.S. With 33.23m Barrels in 2025

As production ramps up and the ongoing conflict with Ukraine continues to disrupt refinery operations. The latest data reveals a notable shift in how russia is exporting its oil. As the war has pushed Moscow to divert supplies away from refineries toward export terminals.


Russian crude exports reach $1.5 bn per week 

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