- India’s Mangalore Refinery and Petrochemicals Ltd. (MRPL) has become the first Indian refinery to tell crude suppliers to avoid both the Strait of Hormuz and the Red Sea, inserting the restriction into a spot tender for up to 1 million barrels of crude.
- The tender seeks cargoes for delivery between August 25 and September 6 and specifies that crude loading or transit through either the Red Sea or the Strait of Hormuz is to be avoided.
- Brent crude prices fell sharply Monday to ~$88 in early morning trading after Washington and Tehran halted military strikes, but tanker traffic through both the Bab el-Mandeb Strait and the Strait of Hormuz has yet to recover.
Indian Refinery MRPL Bars Crude Suppliers From Hormuz, Red Sea Routes
