MRPL Denies Shutdown Amid Gulf Tensions; Assures 'Operations Normal'

• Mangalore Refinery and Petrochemicals Limited (MRPL) denied social media reports of shutting down operations due to feedstock shortages.
• The India-controlled refiner confirmed its operations are normal and it has adequate crude oil to sustain activities.
• The denial comes amidst the ongoing US-Israel-Iran conflict and Iranian threats to shipping through the Strait of Hormuz.
• Crude oil prices surged, with WTI futures up 12.2% to $90.90, raising fears of disrupted global energy supplies.
• The US granted a temporary 30-day waiver for Indian refiners to purchase Russian oil to stabilize energy markets.