India, July 10 -- India's crude oil imports remain well insulated from the latest tensions around the Strait of Hormuz, although prolonged instability could disrupt LPG and LNG supplies and raise shipping costs, according to a Kpler analyst. The latest exchange of fire in the region, following US President Donald Trump's comments on a ceasefire, has renewed concerns over the security of one of the world's busiest energy shipping lanes.

However, the impact on India's crude supplies is likely to be limited because refiners have diversified their sourcing over the past few years, Sumit Ritolia, who models refinery and oil markets at Kpler, said.

"Crude flows through the Strait had not fully recovered before the latest escalation. For India...