Indian refiners plan to resume buying Iranian oil while refiners elsewhere in Asia are examining such a move after Washington temporarily removed sanctions to alleviate an energy crunch caused by the U.S.-Israeli war on Iran, traders said on Saturday.
BASF has underscored the need to boost its China presence with the single largest investment project in the company's history to tap into long-term growth there even as global markets cool down.
The Trump administration waived sanctions on the purchase of Iranian oil at sea for 30 days on Friday in its latest attempt to ease oil prices that have been driven up by the U.S.-Israeli war on Iran.