India seen making slow return to Middle East oil as Hormuz reopens
AI Summary
India is gradually resuming oil imports from the Middle East following the reopening of the Strait of Hormuz, while refiners prepare for increased freight rates amid tanker demand uncertainties.
Refiners are bracing for higher freight rates as buyers rush to secure tankers due to uncertainty.
World Markets Commodities Energy Shipping India Middle East oil Hormuz Strait freight rates tankers energy market