India diesel exports to SE Asia hit 7-year high in March due to Iran war, data shows

India’s diesel exports to Southeast Asia surged ‌to the highest in more than seven years in March, shipping ​data showed, as traders pivoted supply to cover short positions and ⁠refiners cashed in on higher profits in Asia caused by the U.S.-Israeli war with Iran.

The surge in exports could boost spot sale margins for Indian refiners who have ‌purchased large volumes of prompt Russian crude to replace Middle East supply disrupted by the war.

About 1 million metric tons (7.45 million barrels) ‌of diesel have been shipped on this trade route, according to data ‌from analytics ⁠firm Kpler and three trade sources, with around half of the ⁠volumes bound for Singapore.

Around 90% of these volumes were shipped by Reliance Industries, Kpler data showed, operator of the world’s largest refining complex.

Reliance did not immediately respond to a Reuters ​request for comment.