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West Asia War: Has India's Discounted Russian Oil Era Concluded?
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West Asia War Ends India's 'Cheap Russian Oil' Era; Urals Now Costlier Than Brent
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News18
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06-03-2026, 23:10
West Asia War Ends India's 'Cheap Russian Oil' Era; Urals Now Costlier Than Brent
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Russian Urals crude now trades at a premium to Brent for Indian deliveries, reversing a four-year trend.
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West Asia conflict and Strait of Hormuz disruption severed India's traditional energy routes, creating scarcity.
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US Treasury granted a 30-day waiver for Indian refiners to legally resume Russian oil purchases, inadvertently raising prices.
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Increased maritime insurance and freight costs via Cape of Good Hope contribute to the premium despite Baltic discounts.
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This shift poses a significant fiscal challenge for New Delhi, impacting domestic fuel prices and the Indian rupee.
Read Full Article on News18 in English
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