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India's Crude Oil Stocks Hit Near 1-Year High at 104 Million Barrels

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India's crude oil inventory rose sharply to 104 million barrels by end of June, up from 90.5 million barrels in late April, according to analytics firm Kpler. The significant build-up came as Indian refiners scrambled to secure alternative crude supplies from global markets. The move was triggered by the temporary closure of the Strait of Hormuz during a regional conflict, which put nearly 40% of India's crude imports at risk. Refiners acted swiftly to offset the supply disruption by diversifying their sourcing. The stockpile now stands at its highest level in almost a year.

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India's Crude Oil Stocks Hit Near 1-Year High at 104 Million Barrels · ShortSingh