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Commodity Market, Commodities News Today | The HinduBusinessLine

India could limit sulphur exports as supplies tighten, sources say India turns to US, Oman, Nigeria for LNG imports in March as Qatar, UAE supplies dry up China resumes buying broken rice from India Silver Price Today April 16: Latest rates in Delhi, Mumbai, Kolkata, Chennai & Bengaluru Gold rate today April 16: Gold rates up in Mumbai, Delhi, Chennai, Kolkata, Ahmedabad & Bengaluru Indian LNG importers scoop up spot shipments after prices recede Limelight Lab Grown Diamonds targets tier 2-cities with 25 stores in Q1 Crude oil futures edge up despite hopes of US-Iran ceasefire extension ‘Iran war oil shock as disruptive as Covid’ Iran war brings US close to net crude exporter for first time since World War II NAAS suggests govt to consider one-time licensing for imported horticulture hybrids India targets cocoa self-sufficiency by 2040 with national mission and reforms Why is Gold rate surges past $4,850 & Silver crossing $80? Crude unlikely to return to pre-war levels soon; India's import bill may rise $70 billion annually: Report US shuts down Iran’s maritime trade despite optimism for more talks Brent crude edges up ahead of fresh US-Iran talks Global fertilizer supply crunch tightens farm economics Crude oil prices fall for a second day on expectations US-Iran talks may resume Madhya Pradesh CM says basmati rice from the State is exported to 47 nations Russian crude oil imports rebound in March as PSU refiners lift record volumes Oil prices hit record high in March as refiners try to replace West Asian grades: IEA India’s gems and jewellery exports plunge 35% in March on weak demand Inflows into gold ETFs turn positive in past fortnight India’s Russian oil imports surge to €5.3 billion in March on higher volumes Russia restricts helium exports as global supply tightens amid Middle East tensions India’s oil security under pressure as West Asia crisis exposes import dependence risks Fuel price freeze: ₹18/litre loss on petrol, ₹35 on diesel Iran oil hoard at sea shields China’s refiners from US blockade Oil declines as US, Iran weigh more talks; US blockade of shipping to and from Iranian ports in place IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy
India turns to Latin American, African oil after Hormuz d...
By Reuters · 2026-05-25 · via Commodity Market, Commodities News Today | The HinduBusinessLine

Indian refiners turned to imports from Latin America and Africa after ​supplies from the Middle East were disrupted as the ⁠Israeli-U.S. war on Iran restricted shipping in the Strait of Hormuz, data provided by trade sources show.

Refiners in the world's third-largest oil importer and consumer bought most of ‌their crude from the nearby Middle East until the war broke out at the end of February.

In April and May, ‌Indian refiners raised imports from Venezuela, Brazil, Angola and Nigeria to ‌make ⁠up the shortfall, as well as continuing to buy Russian ⁠oil, preliminary data from Kpler show.

Last month, India skipped purchases from Iraq as exports were halted, while it received Iranian oil after a gap of seven years following a temporary ​waiver granted by Washington to ‌help stabilise global oil prices.

New Delhi reduced imports from Russia by about 29.4% from March to 1.6 million barrels per day as Nayara Energy shut its 400,000-bpd refinery for maintenance, the data showed.

However, in ‌May, India is due to get about 1.9 million bpd of ​Russian oil and about 41,000 bpd of Iraqi oil, preliminary data from Kpler showed.

Overall, India imported 4.57 million bpd ⁠oil in April, unchanged from March, but down 15.5 per cent from a year earlier, the data showed.

Imports from the United Arab Emirates rebounded in April to 669,700 ‌bpd from 230,600 bpd in March while intake of Saudi Arabian oil stayed at about 619,500 bpd, the data showed.

The UAE and Saudi Arabia are the only Gulf producers with pipelines that export crude bypassing the Strait of Hormuz, while Kuwait, Iraq, Qatar, and Bahrain rely on the waterway for shipments.

The share of the Organization of the Petroleum ‌Exporting Countries, including the UAE as its member during the month, in India's imports rose ​to 45.2 per cent in April from about 30 per cent in March, the data showed. The UAE exited OPEC in May, freeing it from ⁠oil output quotas.

Higher imports from the UAE helped arrest a decline in ⁠the Middle East's share of India's imports, while the share of Russian oil declined to about 35 per cent from nearly 50 per cent.

Russia remained ‌India's top oil supplier, followed by the UAE and Saudi Arabia. Brazil was the fourth-largest supplier, while Venezuela ranked fifth. Venezuela is on ​course to become the fourth-largest supplier in May, Kpler data showed.

Published on May 25, 2026