The shift toward market-driven decisions currently outweighs political pressure from the US government to reduce India's reliance on Russia, its largest crude supplier. This trend follows a rise in the Urals discount in Russian ports, which Platts reported at $35 per barrel in early October compared to $29.5 in September. While shipping costs have increased, some traders note a sustained appetite for high-diesel-yield grades like Urals and ESPO Blend despite the threat of new US sanctions.
Tuesday, October 20, 2026
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Indian Refiners Cut Russian Crude on $10 Brent Premium
Commodities13 days ago
New Delhi is scaling back its intake of Moscow's oil for November arrivals to avoid overpaying in a tightening market. Refineries in India are reducing purchases of Russian crude as competition from China drives up prices, making alternative shipments from the Middle East more attractive. Russian crude is reportedly being offered at premiums of more than $10 per barrel to Dated Brent, according to people familiar with the matter.
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