Prices for Russian Urals crude oil have risen in the Indian market, driven by a surge in demand from refiners seeking to secure supply amid renewed tensions in the Middle East.
The price increase reflects growing caution among Asian buyers as geopolitical instability threatens key shipping routes and global supply chains.
14 billion, with import volumes surging 34% month-on-month to an all-time high.
The repricing of Urals comes as Indian refiners continue to deepen their reliance on Russian energy imports.
In June, India’s purchases of Russian crude reached a record $5.14 billion, with import volumes surging 34% month-on-month to an all-time high.
This structural shift has made India a critical outlet for Russian oil, even as Moscow’s overall export revenues have faced headwinds.
The current price uplift underscores the sensitivity of the Urals benchmark to geopolitical shocks.