The resumption of the US-Iranian conflict and the blockade of Hormuz have sharply increased the price of Russian oil supplied to India. It is reported by Reuters with reference to sources today, July 29.
This week, discounts on Urals with the nearest delivery date decreased to $ 1-2 per barrel against Brent. In early July, the discount reached $ 10.
Indian refineries have stepped up purchases of Russian oil as concerns about the security of supplies from the Middle East have resurfaced. Chinese oil refineries have also turned to Russian oil this week due to supply disruptions.
Russian oil continues to occupy a significant share in oil imports to India, which is facilitated by competitive prices and stable supplies, despite periodic market disruptions and logistics problems, the British agency admits.
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