Indian oil refineries, some of the few buyers who preserve the “appetite” to Russian oil are perplexed why they pay an almost complete cost for cargoes that are offered with record discounts in Europe, Bloomberg writes.
Edition with a link to traders reports that recycling in the South Asian country recently bought several million barrels of Urals oil on open tenders, while some deliveries were carried out with a branch of $ 1 per barrel to BRENT compared to a discount of more than $ 30 / b On the same grade in Europe.
Agency notes that representatives of Indian refineries are unclear why they do not receive proposals for discounts close to those they see in Europe when they are in need to support the continuation of the import of Russian oil. As the publication writes, the lack of price reduction is particularly concerned about them, since the situation around Ukraine has led to a rise in prices to more than $ 100 per barrel, which has strengthened inflation concerns from the poorest major importer of oil.