Country page
India carries one of the highest combined energy and fertilizer sensitivities, with procurement pressure most acute in urea and LNG-linked feedstocks.
Hormuz exposure
63%
Oil stock cover
52 days
Fertilizer
84/100
Helium
46/100
Country narrative
State tendering can smooth volumes, but price pass-through risk rises quickly during planting windows.
Reserve cover is workable for oil, yet fertilizer exposure remains structurally high.
Direct oil dependence sits at 61% of the country’s external energy risk profile, while gas-linked downstream exposure remains notable at 23%.
Oil dependence
61%
Gas dependence
23%
Risk score
78 / 100
Reserve stress
Related commodities
Oil
Stress score
76 / 100
Route dependence
84%
7d move
+6.8%
Crude remains the most immediate transmission channel, with freight, insurance, and strategic stock policy all shaping spot balances.
Gas
Stress score
74 / 100
Route dependence
61%
7d move
+5.4%
Asian LNG replacement prices are rising as buyers scenario-plan longer Gulf loading and transit assumptions.
Fertilizer
Stress score
81 / 100
Route dependence
57%
7d move
+7.2%
Urea is the most exposed downstream module because buyers cannot easily absorb long procurement delays during planting-sensitive periods.
Fertilizer
Stress score
73 / 100
Route dependence
46%
7d move
+5.8%
Ammonia stress is driven less by pure shipping exposure than by the way LNG tightness cascades into nitrogen cost curves.
Live snippets
17:24 HKT · Freight
Brokers are quoting wider ranges for April fixtures as owners price in scheduling slack and higher perceived transit risk.
16:58 HKT · Reserves
Current official posture remains preparatory, but contingency coordination has become more active across Asia.
16:11 HKT · Nitrogen
Tender timing is turning from opportunistic to defensive in South Asia, with price secondary to volume certainty.
15:36 HKT · LNG
The move reflects longer expected Gulf turnaround assumptions rather than confirmed physical outages.