Middlemen are actively offering discounted Iranian crude to Indian refiners, seeking to accelerate sales following the implementation of a temporary U.S. sanctions waiver.
Indian refining sources indicate that intermediaries are pushing volumes aggressively as Tehran looks to capitalize on the brief window of regulatory relief.
The waiver, which took effect on Sunday, grants Iran permission to sell crude oil as part of a broader framework designed to de-escalate regional tensions.
However, the market response has been muted, with major Asian refiners exercising significant caution.
Buyers are weighing the potential for renewed hostilities and the complexities of compliance against the attractive pricing offered by intermediaries.
This development comes as oil prices have hovered near four-month lows, pressured by persistent shipping risks in the Strait of Hormuz.