India Returns to Iraqi Oil Imports as Tanker Traffic Resumes

The booking of the Jasmin Joy for a July 19-20 loading window signals a cautious return to Middle Eastern supply lines. Previously, Indian state entities faced significant hurdles securing vessels for Persian Gulf routes, highlighted by the Indian Oil Corporation’s failure to receive any bids for a three-tanker tender in late June. High freight costs and lingering uncertainty regarding transit conditions had effectively sidelined state-backed buyers.

While outbound traffic from the Gulf has gradually increased, many shipowners remain hesitant to commit to inbound journeys. Despite this backdrop, major commodity players are aggressively pushing supply into the Asian market. TotalEnergies is currently offering millions of barrels of Basrah Medium and Basrah Heavy crude to buyers in China, South Korea, and Taiwan, betting that the reopened chokepoint will hold steady for near-term deliveries.