India Increases UAE and Russian Oil Imports Amid Strait of Hormuz Logistics Shifts

India accelerated its crude oil purchases from the United Arab Emirates and Russia in June, driven by competitive pricing and a strategic push to stabilize inventories before anticipated logistical shifts in the Strait of Hormuz. The move reflects a broader shift among Indian refiners to capitalize on discounted Russian grades and reliable Middle Eastern supply chains. Surge in Russian and UAE Volumes India’s imports of Russian crude reached a near one-year high in June, as refiners maximized intake of discounted Urals. Simultaneously, shipments from the UAE saw a notable increase, securing the Emirates’ position as a critical energy partner for the world’s third-largest oil consumer. Preliminary trade data indicates that Indian refiners took advantage of narrowed discounts on Russian oil by blending it with higher-quality grades from the UAE. The increase comes as Indian state-run and private refiners, including Reliance Industries and Nayara Energy, adjust their procurement strategies to mitigate potential freight disruptions. By front-loading purchases in June, these entities are insulating themselves against volatility in maritime transit costs through the Persian Gulf.…