06 Sep, 23

India Top Buyer of Russian Urals Crude In August Despite Shrinking Discounts

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Even as the price of Russian Urals rose throughout the month of August and discounts to Brent shrunk, India remained the top purchaser of the grade. As the discount for sanctioned Russian Urals compared to Brent crude oil shrunk for August loading to just $5 per barrel or less, Indian refiners said the discount was no longer substantial enough to warrant the same volumes for September loadings. That discount was the smallest since Europe placed an embargo on Russian crude, Reuters said on Tuesday. Discounts on Russian crude were as large as $30…

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