Nomura warns of India's oil risk from Hormuz Bab al-Mandab

Indian refiners may face higher costs

Potential Houthi militia threats at Bab al-Mandab add to the uncertainty.
Oil prices have risen around 10% in just two days.
With ships now taking longer routes around Africa, Indian refiners might see higher costs and shrinking discounts, meaning pricier fuel could be on the horizon if things don't calm down soon.