25-July-2026
Economy News
 
India loses Russia oil discount as Red Sea, Hormuz risks upend crude markets
24-Jul-2026

Traders have stopped offering discounts on Russian crude sold to India as disruptions to Middle Eastern supplies have boosted demand for alternative grades, the head of finance at Indian state refiner Bharat Petroleum Corp said on Thursday. Refiners in India, the world's third-biggest oil importer and consumer, have raised purchases of Russian oil as supplies from traditional producers in the Middle East have been disrupted.

News Source:- https://economictimes.indiatimes.com/industry/energy/oil-gas/india-loses-russia-oil-discount-as-red-sea-hormuz-risks-upend-crude-markets/articleshow/132576917.cms
 
 
 

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