Sources: Due to limited supply, the premium for Russian Urals crude oil in India has risen significantly

Three sources revealed that due to the Iran conflict reducing crude oil supplies from Gulf producing countries and causing refinery shortages, the premium of Russian Urals crude oil shipped to Indian ports over Brent crude has surged to $8 per barrel, reaching the highest level since May. According to the sources, the Russian Urals crude currently shipped to India trades at a delivery premium of about $8 per barrel, while the premium compared to Brent in August was only around $1 per barrel.