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India's diesel exports to Southeast Asia surged to the highest successful much than 7 years successful March, shipping data showed, arsenic traders pivoted proviso to screen abbreviated positions and refiners cashed successful connected higher profits successful Asia caused by the U.S.-Israeli warfare with Iran.
The surge successful exports could boost spot merchantability margins for Indian refiners who person purchased ample volumes of punctual Russian crude to regenerate Middle East proviso disrupted by the war.
About 1 cardinal metric tons (7.45 cardinal barrels) of diesel person been shipped connected this commercialized route, according to information from analytics firm Kpler and 3 commercialized sources, with astir fractional of the volumes bound for Singapore.
Around 90% of these volumes were shipped by Reliance Industries, Kpler information showed, relation of the world's largest refining complex.
Reliance did not instantly respond to a Reuters request for comment.
