Indian state-owned refiners are rushing to procure spot crude unusually far in advance as Ukrainian attacks on Russian energy assets and a stalemate over the Strait of Hormuz make supplies increasingly uncertain. Processors, including Indian Oil Corp. and Hindustan Petroleum Corp., have already tied up some supplies until October and are now seeking cargoes for as far ahead as November, according to people familiar with the matter. Typically, these companies buy spot supplies just a month or two in advance. The buying spree by the world’s third biggest oil importer underscores mounting concerns over supplies from Russia, which have plunged to the lowest since May after a wave of Ukrainian attacks on the country’s energy and ports infrastructure. Russia has become India’s biggest crude supplier in recent years, accounting for about half of purchases by state-run refiners. #oott bloomberg.com/news/articles/…

Indian state-owned refiners are rushing to procure spot crude unusually far in advance as Ukrainian attacks on Russian energy assets and a stalemate over the Strait of Hormuz make supplies increasingly uncertain. Processors, including Indian Oil Corp. and Hindustan Petroleum Corp., have already tied up some supplies until October and are now seeking cargoes for as far ahead as November, according to people familiar with the matter. Typically, these companies buy spot supplies just a month or two in advance. The buying spree by the world’s third biggest oil importer underscores mounting concerns over supplies from Russia, which have plunged to the lowest since May after a wave of Ukrainian attacks on the country’s energy and ports infrastructure. Russia has become India’s biggest crude supplier in recent years, accounting for about half of purchases by state-run refiners. #oott bloomberg.com/news/articles/…

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