Buyers turn to India for refined products amid Persian Gulf disruption

The ongoing war in the Middle East has nearly halted oil shipments from the Persian Gulf, prompting refined product buyers to look elsewhere, and has brought West Coast India into focus, multiple market participants said March 4. Several distillate cargoes were covered overnight for loading from Sikka port on India’s west coast, and more such deals were in the offing, according to charterers,The ongoing war in the Middle East has nearly halted oil shipments from the Persian Gulf, prompting refined product buyers to look elsewhere, and has brought West Coast India into focus, multiple market participants said March 4. Several distillate cargoes were covered overnight for loading from Sikka port on India’s west coast, and more such deals were in the offing, according to charterers,Read More