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Commodity Market, Commodities News Today | The HinduBusinessLine

Basmati exporters urge govt to suspend ₹83/tonne levy amid delayed payment, shrinking margin 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; 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silver down 9% Basmati exporters seek relief as shipping lines levy charges amid disruption due to war Tanker carrying Iranian crude oil shifts course from India to China Oil prices surge while Asian share prices rise moderately Trump to reduce steel, aluminum tariff rates for derivative products, sources say West Asia conflict erodes Qatar’s share in India’s LNG imports to record low in March India procures 6% more rice from farmers in 2025-26 kharif marketing season OPEC+ likely to weigh further oil output hike on Sunday, sources say Reliance SEZ refinery exempt from diesel, ATF export tax: Govt OMCs face losses as crude tops $100 while fuel prices remain unchanged
Iranian crude returns to India after seven years as tankers dock at key ports
2026-04-13 · via Commodity Market, Commodities News Today | The HinduBusinessLine

Two supertankers carrying Iranian crude have arrived at Indian ports on both the east and west coasts, marking the first such deliveries in nearly seven years, according to ship-tracking data.

Felicity, a very large crude carrier operated by the National Iranian Tanker Company, anchored off Sikka on Gujarat's coast late Sunday, carrying about 2 million barrels loaded at Kharg Island in mid-March.

A second tanker, Jaya, moored near Paradip on Odisha's coast around the same time. It is transporting a similar volume of crude, lifted from Kharg Island in late February, before the US and Israel launched military strikes against Iran, followed by Tehran's retaliation.

The shipments are the first Iranian crude cargoes to reach Indian shores in nearly seven years, following a sanctions waiver issued by the United States last month.

The one-month exemption permitted the sale of Iranian oil already in transit, aimed at easing global supply disruptions and containing prices.

However, after peace talks collapsed over the weekend, Washington announced a blockade of Iranian ports, seeking to curb Tehran's oil export revenues.

The buyers of the cargoes reaching Indian coasts have not been formally disclosed.

Paradip port is primarily operated by Indian Oil Corporation, which has confirmed purchasing at least one Iranian shipment under the waiver. Sikka, meanwhile, is a key crude handling hub for Reliance Industries and Bharat Petroleum Corporation, both of which maintain infrastructure in the region.

Late last month, the tanker Ping Shun, carrying about 600,000 barrels of Iranian crude, was initially bound for Vadinar in Gujarat but diverted to China mid-voyage due to payment issues.

Had it reached Vadinar, oil on Ping Shun would have been the first Iranian barrels to reach Indian shores in seven years.

Historically, India was a major buyer of Iranian crude, importing significant volumes of Iranian light and heavy grades due to strong refinery compatibility and favourable commercial terms.

Following sanctions tightening in 2018, imports ceased from May 2019, with volumes replaced by Middle Eastern, US and other grades. At peak, Iranian crude accounted for 11.5 per cent of India's total imports.

India used to buy 518,000 barrels per day of Iranian oil in 2018, which slowed to 268,000 bpd between January and May 2019 when the US granted waivers to a few buyers. There have been no imports since.

The key grades that Indian refiners used to purchase are Iran light and Iran heavy crudes.

The US last month waived sanctions on the purchase of Iranian oil at sea for 30 days in its latest attempt to ease oil prices that have been driven up by the US-Israeli war on Iran.

That window expires April 19. An estimated 95 million barrels of Iranian oil is on vessels on sea, of which around 51 million barrels could be sold to India, while the remaining are better suited for buyers in China and Southeast Asia.

Published on April 13, 2026