India is set to become the leader in global oil demand growth. By 2030, India's demand will increase significantly. The country will add one million barrels per day. This growth is due to strong economic expansion.

There are reports that a few shipping lines may be reassessing routes, particularly the choke point of the Strait of Hormuz, given the heightened threat in the region. This could further add to the transportation cost to and from the region.

Concerns remain over potential closing of the Strait of Hormuz; continued escalation could hit crude oil, global trade

IFreight rates for Russian oil shipments from the Baltic ports to India eased further in the period from late May to early June, thanks to high tanker availability, but the trend may reverse if Europe's proposed lower price cap comes to fruition.

State-owned ONGC and Oil India carrying out deepwater exploration campaigns in Andaman basin, but no commercial discoveries have yet been reported

After a strong recovery on Monday, Indian markets are expected to open steady on Tuesday as investors assess cooling inflation, stable global cues, easing commodity prices, and the U.S. Fed’s policy outlook. Sectoral rotation and macro data remain key triggers.

India's palm oil imports jumped to a six-month high in May, driven by low inventories and the tropical oil's price discount to rival soyoil and sunflower oil, which prompted refiners to boost purchases,

Explore how India’s edible oil sector is evolving with sustainable practices, reducing import reliance, and boosting farmer incomes through innovation.

This spike came after Israel struck Iran’s nuclear and missile sites, raising fears of further retaliation and supply disruptions. “The Strait of Hormuz is a chokepoint for nearly 20% of global oil flows, and any threat to its safety adds a geopolitical risk premium,” she added.

A surge in oil prices after Israel’s strikes on Iran sent the Indian rupee tumbling on Friday, prompting the central bank to step in and limit further losses, traders said.

The agreement, effective from June 2025, is valid for one year with potential extensions contingent on oil exploration progress.