US blockade of Iran ports in Hormuz may hit China hardest, but India could feel price pain too

For India, the first-order risk is limited. But the second-order consequences—likely to be driven by China’s displacement from Iranian barrels—could push up benchmark prices and squeeze New Delhi’s import bill even as volumes hold steady. “It is still early to draw definitive conclusions on the extent of impact from a potential US-led blockade or disruption in the Strait of Hormuz,” said Sumit Ritolia, Manager for modelling refinery and oil markets at commodity intelligence firm Kpler. “Much will depend on how enforcement and vessel movements evolve in the coming days,” he added. Also Read: The Hormuz blockade is a throwdown the…