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As an effect of the escalation of the Israel-Iran conflict and Tehran's threat to close the Strait of Hormuz, Indian refiners are likely to ramp up oil purchases from non-West Asian supplies such as Russia, West Africa, the US, and Latin America. Shipping through routes to Indian ports from the above-mentioned suppliers avoids the critical chokepoint in the Persian Gulf.
short by / 11:32 am on 24 Jun
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