Venezuela, Russia step up crude shipments, India benefits

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The U.S.-Israel warfare connected Iran has roiled planetary vigor and equities markets, sending lipid prices skyrocketing aft Tehran virtually closed the cardinal Strait of Hormuz. | Photo Credit: LOIC VENANCE

Amid a planetary crude lipid situation triggered by the Iran warfare and the closure of the Strait of Hormuz, India is apt to person lapped up astir of the accrued crude lipid shipments from Venezuela and Russia.

According to BIMCO, 1 of the world’s largest shipping associations, planetary crude shipments fell 16% aft the warfare began compared with the archetypal 9 weeks of the year.

Published - April 15, 2026 09:06 p.m. IST

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