Indian refiners charter tankers through Hormuz for cheaper Persian Gulf crude

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Indian oil refiners have begun chartering ships to collect crude oil directly from within the Persian Gulf via the Strait of Hormuz. This represents a significant shift in their procurement strategy. The move is primarily aimed at reducing overall oil import costs. It also seeks to enhance the security and reliability of their supply chains. The change comes as refiners look to optimize operations amid volatile global energy markets.

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