Indian refiners have reportedly payed above benchmark prices for about 60 million barrels for April delivery
Indian refiners have sharply increased purchases of Russian oil for delivery next month, paying above global benchmark prices, Bloomberg reports.
The US-Israeli war against Iran has virtually halted shipping traffic through the Strait of Hormuz, which carries around a fifth of the world’s daily oil supply, triggering a surge in oil and gas prices and increasing demand for Russian oil.
Companies in the world’s third-largest oil-importing nation have struck deals for around 60 million barrels of Russian crude for April, people familiar…
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