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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; US blockade of shipping to and from Iranian ports in place
India buys oil from Iran for first time in 7 years with n...
2026-04-04 · via Commodity Market, Commodities News Today | The HinduBusinessLine
India has secured its full ‌requirements of crude oil for the coming months, the oil ministry said.

India has secured its full ‌requirements of crude oil for the coming months, the oil ministry said.

Indian refiners have ​purchased Iranian oil amid the West Asia conflict that has disrupted supplies through ​the Strait of Hormuz, ⁠the oil ministry said on Saturday.

The world’s third-biggest oil importer and consumer, India has ‌not received a cargo from Tehran since May 2019, following US ‌pressure not to buy ‌Iranian ⁠crude, but supply disruptions from the ⁠US-Israel war have hit the South Asian nation hard.

“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,” ‌the oil ministry said on X.

The news reports and social media posts of an Iranian crude cargo being diverted from Vadinar, India to China due to "payment issues" are factually incorrect. 🇮🇳India imports crude oil from 40+ countries, with companies having full flexibility to source oil from different sources…

— Ministry of Petroleum and Natural Gas #MoPNG (@PetroleumMin) April 4, 2026

Last ​month, the United States temporarily removed sanctions on Iranian oil ⁠and refined products to ease supply shortages.

India has secured its full ‌requirements of crude oil for the coming months, the ministry added.

“India imports crude oil from 40-plus countries, with companies having full flexibility to source oil from different sources and geographies ‌based on commercial considerations.”

India has also ​bought 44,000 metric tons of Iranian liquefied petroleum gas loaded on ⁠a sanctioned vessel. The ministry said the ⁠vessel, which berthed at the western port of Mangalore on ‌Wednesday, is discharging the fuel.

Published on April 4, 2026