India's oil tankers pass through the Strait of Hormuz; Hyperliquid crude price falls below $100.

KuCoinFlash

Release Time: 03/15/2026 04:16:18

Summary

India’s crude oil price movement dropped below $100 after two Indian oil tankers, 'Shivalik' and 'Nanda Devi,' passed through the Strait of Hormuz on March 15, 2026, carrying 92,700 tons of cargo. The transit followed diplomatic discussions between India, Iran, the U.S., and Gulf states to avoid U.S. naval escorts. Analysts noted that China and India account for over 52% of oil transit through the strait. If Tehran permits safe passage, more than half of normal traffic could resume. Saudi Arabia’s East-West pipeline can bypass the strait, transporting 7 million barrels per day. On Hyperliquid, crude futures fell to $98.1 in early trading, with price analysis suggesting the move alleviates regional supply concerns.

BlockBeats report, on March 15, multiple international media outlets reported that two Indian liquefied petroleum gas vessels, "Shivalik" and "Nanda Devi," successfully passed through the Strait of Hormuz, returning home with 927,000 metric tons of cargo. This move followed high-level diplomatic negotiations between India, Iran, the United States, and the GCC, avoiding the need for U.S. military escort.

Analysis shows that China and India account for more than 52% of all oil normally passing through the Strait of Hormuz. If Tehran allows its two major customers to transit safely, more than half of the strait’s normal traffic volume could be restored overnight. Added to this is Saudi Arabia’s East-West pipeline, which can bypass the Strait of Hormuz by transporting 7 million barrels of crude oil per day.

In response to this news, crude oil futures on Hyperliquid fell below $100 during early trading and are now at $98.10.

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