India's First LPG Tanker Clears U.S. Hormuz Blockade Easing Supply Crunch

An Indian-chartered LPG tanker, MT Sarv Shakti, cleared the Strait of Hormuz—the first India-bound cargo since the U.S. blockade began in mid-April—providing relief to India's tight LPG supplies amid industrial rationing. This breakthrough follows Gulf disruptions from the Iran war, prompting India to surge Russian crude imports to 2.06 million b/d in March (total imports down to 4.4 million b/d), secure 44,000 mt Iranian LPG, and plan largest Venezuelan crude buys in six years. China approved 500,000 tons of fuel exports in May for neighbors, while refiners shifted from RBI's FX credit line due to high U.S. rates.