A trader at Vitol Group in India confirmed at least one transaction between his company and Radiant World that Vitol later said wasn’t genuine, adding a further layer of complexity to a saga that has drawn in some of the biggest names in commodity trading.

Indian state-owned refiners are facing the most significant supply uncertainty in months, according to people with direct knowledge of the trade, as the impact of a drawn-out conflict in the Middle East is compounded by the prospect of tighter US restrictions on Russian purchases.

Frustrated by Iran’s unwillingness to give up its stranglehold over the Strait of Hormuz, US President Donald Trump is trying to force the issue. The US military announced that it had imposed a full blockage of Iran’s southern coastline, including traffic from there through the Strait of Hormuz, as of April 13.

Frustrated by Iran’s unwillingness to give up its stranglehold over the Strait of Hormuz, US President Donald Trump is trying to force the issue. The US military announced that it had imposed a full blockage of Iran’s southern coastline, including traffic from there through the Strait of Hormuz, as of April 13.

Saudi Arabia has restored the full pumping capacity of its East-West pipeline to 7 million barrels a day, rehabilitating a vital link for oil exports via the Red Sea.

Saudi Arabia has restored the full pumping capacity of its East-West pipeline to 7 million barrels a day, rehabilitating a vital link for oil exports via the Red Sea.