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Story summary
- India has purchased its first cargo of Iranian liquefied petroleum gas (LPG) in years after the U.S. temporarily lifted sanctions on Tehran.
- The disruption in energy shipments via the Strait of Hormuz contributed to the decision.
- The cargo will be shared among Indian Oil Corp, Bharat Petroleum Corp, and Hindustan Petroleum Corp.
- Traders are offering Iranian oil to Indian refiners at a premium as India addresses LPG and crude shortages.
