India, April 1 -- Amid the Israel-US conflict with Iran and the chokehold on the Hormuz Strait in the Persian Gulf, India's first cargo of Iranian crude oil since 2019 is set to head towards a port in Gujarat.

The move comes in the backdrop of surging crude prices due to the West Asian crisis; Indian refiners have been seeking to ramp up procurement of a few cargoes of Iranian oil on water following the recent sanctions waiver by Washington.

"The Indo-Iranian oil trade has flickered back to life. Following the US administration's decision to grant a 30-day window for Iranian oil 'on the water' due to regional conflict, the vessel Ping Shun is now en route to Vadinar (in Gujarat) with 600,000 barrels of crude. This is the first such deli...