Iranian crude oil imports into India fell by 15.9 percent in June from May, or to 592,800 bpd from more than 705,000 bpd in the previous month, Reuters reports , citing shipping data. The drop suggests that despite its initially tough stance on U.S. sanctions, Indian refiners have started changing their mind as the November 4 deadline to wind down business relations with Iran draws nearer. Refiners have started looking for alternative suppliers, but the price is once again not right for them, as the head of the largest Indian refiner and fuel retailer, Indian Oil Corp. said earlier this week. The Iran sanctions are one of the top reasons for the price rally that has come to bite India’s refiners amid surging domestic demand for fuels, so chances are New Delhi will try to secure a waiver. Meanwhile, however, the Indian government has become the target of criticism […]