The renewed rally in crude oil and LNG prices and the higher freight costs are pressuring the marketing margins of India’s oil and gas sector, which has to contend with the fallout of the Iran war on global oil and LNG trade flows. Increased refining margins offset some of the downward pressure, but gasoline and diesel marketing margins remain negative, while high LNG prices in Asia would squeeze margins in the gas sector and likely lead to softer September imports of LNG, India-based brokerage Equirus said a note carried by local media.…
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