Lates News

Three sources said that due to reduced crude oil supply from Gulf oil-producing countries caused by the Iran conflict, refineries are facing supply shortages, and the premium of Russian Urals crude arriving at Indian ports relative to Brent crude has jumped to $8 per barrel, the highest level since May. The sources noted that Russian Urals crude currently shipped to India is priced at a premium of about $8 per barrel on a delivered basis, compared with a premium of only about $1 per barrel to Brent crude in August.