Purchases of Russian oil by India fell sharply.
The flow has dropped to around 310,000 barrels per day recently.
Many thought it was due to threats of U.S. tariffs.
The reality is simpler and has to do with the numbers.
The price of Russian crude, Urals, has risen quite a bit in recent weeks.
Now it costs almost the same as Middle Eastern oil.
Indian refineries prefer to look for cheaper alternatives purely for economic logic.
In the end, it all comes down to supply costs.
This move in the energy market always ends up affecting global stability and the $XAU .
What do you think of this change in India’s strategy?
#Petroleo #India #Markets
The flow has dropped to around 310,000 barrels per day recently.
Many thought it was due to threats of U.S. tariffs.
The reality is simpler and has to do with the numbers.
The price of Russian crude, Urals, has risen quite a bit in recent weeks.
Now it costs almost the same as Middle Eastern oil.
Indian refineries prefer to look for cheaper alternatives purely for economic logic.
In the end, it all comes down to supply costs.
This move in the energy market always ends up affecting global stability and the $XAU .
What do you think of this change in India’s strategy?
#Petroleo #India #Markets