India’s state-run refiners are in talks with traders marketing Iranian crude, and are preparing to buy barrels if the US extends waivers beyond August or eases restrictions, according to people familiar with the matter.
The companies, however, have little room to buy Iranian oil immediately, having fully contracted shipments required through August after they sought to secure supplies in advance during the Middle East war. Still, refiners may pick up some Iranian cargoes if the discounts are significant, the people said, asking not to be named because the negotiations are private.
