Russian oil for March delivery to India at a lower discount
Sources say that traders offer Russian oil for March delivery to India at a lower discount After a temporary delay caused by the recent U.S. trade sanctions, which have increased trading costs, Indian sources in the refining industry said that traders have now resumed their offers to Indian refiners of Russian crude cargoes. Washington imposed sanctions on Russian producers and tankers earlier this month, disrupting the supply of the world's no. The number 2 oil producer in the world has been slowed down and ship availability is tightened. India has become the biggest market for Russian oil shipped by sea, sold at a discounted price after Western nations stopped buying it as a response to Russia’s invasion of Ukraine 2022. Sources said that while Russian crude is typically offered in the middle of the month, two months before the delivery period, only this week new trading entities began showing cargoes for delivery in March. The number of cargoes available has also decreased, while the discounts on Urals crude have shrunk compared to last year. This is because freight rates have increased after Moscow began looking for vessels to…