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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 BALCO deploys AI humanoid agent for real-time training, operations and safety NSE gets MCA approval to launch National Coal Exchange of India Coal stock adequate for 90 days available: Union Coal Minister Kishan Reddy India auctions 46 critical mineral blocks, launches 7th round with 19 more: G Kishan Reddy Iranian crude returns to India after seven years as tankers dock at key ports India's March palm oil imports fall 19% to three-month low Crude oil futures rise as US moves to blockade Iranian ports Gold falls on stronger dollar, fading Fed rate-cut hopes Crude oil jumps 7% to above $100 on US’ maritime blockade on Iran Draft CAFE-3 Norms: Govt eases penalties, focuses on carbon credit trading for auto sector India allows Iranian oil tankers to berth at Sikka port under special exemption US expected to extend waiver for Russian oil imports amid global energy price concerns Sharp fall in prices hit gold ETF inflows in March India to continue buying Russian crude oil Gold futures drop ₹1,363 to ₹1,52,071/10g India targets 30 lakh PNG connections amid LPG supply concerns Crude oil futures rise on Hormuz disruptions, Saudi attack reports Unseasonal rain, hailstorms, may drag Indian wheat output by over 5% No LPG shortage in country, vessels continuously coming to India via Hormuz: Petroleum Secretary Neeraj Mittal Russia offers sanctioned LNG to energy-hungry Asia at a discount Crude oil futures rise after Israeli attacks on Lebanon West Asia Conflict: Natural gas allocation to fertiliser sector upped to 95% Oil and Gas prices plunge after US and Iran agree to a ceasefire US ceasefire may boost LPG, LNG supplies to India in short term Natural Diamond Council celebrates ‘World Diamond Day’ India set to get first Iranian crude oil cargo in 7 years Crude oil futures crashes 6% to hit lower circuit as US-Iran ceasefire cools tensions Gold rises to near three-week high as Trump pauses attacks on Iran India’s green energy drive faces critical minerals hurdle amid global race Oil plunges, stocks surge as US-Iran ceasefire sparks global market rally Freight surge, logjam hurts egg exports despite strong demand Sugar consumption in April may fall by 2 lakh tonnes on cool weather and LPG scarcity Industry body urges Maharashtra to retain inspector-free fertilizer policy Government amends mining rules to boost critical mineral exploration and self-reliance Silver futures decline ₹1,479 to ₹2.31 lakh/kg as geopolitical risks lift inflation outlook IGX gas trade rises 28% YoY in FY26 to record 76.8 million MMBtu India returns to buying Venezuelan crude to ease supply crunch Crude oil futures hit record ₹10,888/barrel; WTI touches $116 Crude oil futures rise after Trump threatens Iran over Hormuz deadline Prices of essential food items are not unusually volatile, says Govt NSE to launch Brent Crude futures based on Platts benchmark West Asia crisis hits activated carbon exports as costs surge amid shipping woes Crude oil futures rise to ₹9,284/barrel as Trump threatens Iran over Hormuz blockade Saudi Arabia hikes Arab Light May OSP for Asia to record $19.50/bbl Crude oil unlikely to fall to $70 in 2026, may remain at $80-85; risks to growth, inflation: UBI report Kharif 2026: Crystal Crop Protection launches fodder seed products Brent crude edges up as Trump issues ultimatum to Iran OPEC+ to raise output in May as Russia, Saudi Arabia lead increase OPEC+ output hike overshadowed by Strait of Hormuz disruption Crude Check: Strength Intact Five EU countries call for windfall tax on energy companies amid Iran war India resumes energy trade with Iran after seven years Iran, Saudi LPG shipments arrive, unload at New Mangalore Port India buys oil from Iran for first time in 7 years with no payment issues Govt says fuel supplies sufficient despite war disruption, avoid panic buying West Asia Conflict: Russia offers topping up supplies of crude, fertilisers, LNG to India Iranian Oil cargo to India diverts to China amid payment dispute Central banks gold purchases net up in February, but Russia, Turkiye sell BuzzBallz clocks 3x monthly growth in Bengaluru, eyes Maharashtra and Goa expansion India’s 2026-27 peanut output may rise 3% on higher area Hindustan Zinc mined metal production up 2% in 2025-26; 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
India prepares to send oil tankers through Hormuz for new supply
By Bloomberg · 2026-05-20 · via Commodity Market, Commodities News Today | The HinduBusinessLine

India is preparing to send vessels through the Strait of Hormuz to load up energy cargoes from suppliers in the Middle East, according to people familiar with the matter, the first time since the Iran conflict began that the country will do so.

The plans are finalized and ships will start attempting to cross the strait once the government gives its final approval, the people said, asking not to be identified because the discussions are private. They didn’t give details on the timing of the shipments or the volumes involved.

State-owned Shipping Corp. of India is ready to go back to the Persian Gulf once it has approval from the Indian Navy and it has business from oil refiners, one of the people said. 

Shipping through Hormuz, which handles roughly a fifth of global oil flows, has been virtually halted since the Iran war began at the end of February, causing major disruptions and price shocks for countries like India, the world’s third-largest crude importer.

It’s unclear whether Iran or the US, which are separately blockading the strait and surrounding waters amid the war, have given India a green light to send ships through the waterway. Their agreement will be critical for the plan to work. 

India’s External Affairs Minister Subrahmanyam Jaishankar met his Iranian counterpart Abbas Araghchi in New Delhi on the sidelines of a BRICS summit last week. 

India wants to continue importing energy from its traditional Middle East oil producers because supplies from alternate sources would take a longer time to reach the country and be costlier, people familiar with the matter said. 

India’s Navy has doubled the number of warships in the region and increased aerial surveillance to monitor the area, the people said. Warships are escorting Indian-flagged ships and vessels headed to India once they safely exit the strait. 

India’s Ministry of Ports, Shipping and Waterways and the Indian Navy didn’t respond to emails seeking further information.

While non-Iranian oil has dribbled out through Hormuz since the war began, the precise conditions allowing those transits have been patchy and unclear. Flows remain at a tiny fraction of their pre-conflict levels.

India’s government recently launched a marine insurance initiative to provide uninterrupted coverage for Indian ships and cargoes operating in high-risk waters, including the Strait of Hormuz.

Although India has stepped up purchases of crude from Russia and other suppliers, it remains heavily reliant on purchases from the Middle East. Russian oil carries the risk of US sanctions as well, although the Trump administration recently issued a new waiver allowing the sale of Russian crude oil and petroleum products already loaded on tankers.

The energy crisis has put a strain on India’s economy. Prime Minister Narendra Modi has urged citizens to save fuel and foreign exchange amid surging oil bills and a plunge in the rupee to a record low. 

More stories like this are available on bloomberg.com

©2026 Bloomberg L.P.

Published on May 20, 2026