India taps alternative crude oil supplies as West Asia conflict drags on

Indian refiners have begun negotiating for additional crude cargoes from the US, Russia and West Africa to ensure supplies remain adequate in the event of the Middle East conflict drags on for a longer period, industry officials and analysts said. Refineries, which convert crude oil into fuels like petrol and diesel, have deferred planned maintenance shutdowns and are maintaining normal processing rates to create buffers that could meet the country's requirement in the near term, they said. India imports about 88 per cent of its crude oil requirement, with roughly half of those supplies in February passing through the Strait of Hormuz, the narrow sea lane between Iran and Oman that serves as a key energy transit route for global markets. The recent military strikes by the United States and Israel on Iran, and Tehran's retaliatory attacks on US bases in neighbouring countries as well as Israel, have sharply escalated tensions in the region, leading to a near halt in tanker movements