India May Cut Oil Product Exports If Strait of Hormuz Is Blocked
India is preparing to source crude oil from outside the Persian Gulf and cut its own refined-product exports should the Strait of Hormuz be blocked to ship traffic, Oil Minister Hardeep Puri said Thursday.
About a quarter of the world's oil trade passes through the key waterway, which links the Gulf to the Indian Ocean. Some market watchers are concerned that Iran, locked in a conflict with long-time adversary Israel, could choose to attack tankers sailing through Hormuz or close the strait altogether.
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