Russia’s Urals crude oil has reportedly traded above the global benchmark Brent Crude in the Indian market for the first time, according to traders.
The shift in pricing comes as rising demand, linked to tensions involving Iran and disruptions around the Strait of Hormuz, continues to affect global oil supply routes.
Reports suggest that Russian Urals crude is currently being sold at a premium of about $4 to $5 per barrel above Brent for shipments heading to ports in India.
Meanwhile, Brent crude prices have increased by nearly 25 percent, reaching around $89 per barrel, while Urals crude has jumped close to 50 percent over the past week due to tightening supplies and strong market demand.
Disclaimer: This image is AI-generated, and the post is intended for informational purposes only.
