India’s Crude Import Bill Surges as Hormuz Shipping Rates Soar
India’s crude oil import bill has soared since the Iran war choked Middle Eastern oil supply, raised benchmark crude prices, quadrupled freight rates, and boosted insurance on a single Strait of Hormuz voyage to never-before-seen highs. India has been paying elevated prices to import Middle Eastern crude not only because of the spike in oil prices, but also due to the surging costs to bring…
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- India’s Crude Import Bill Surges as Hormuz Shipping Rates Soar finance.yahoo.com
