Russian Oil Freight Rates to India Hit Record Highs
Freight rates for Russian Urals oil shipments to India reached record highs in early October due to heightened Black Sea risks and rising global tanker costs. Transport expenses of up to thirty dollars per barrel are limiting Moscow from fully benefiting from strong global oil prices.
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Freight rates for Russia oil exports from western ports to India surged to $30 per barrel in early October. The spike comes amid heightened Black Sea risks and a global tanker market rally. The soaring transport costs erode profit margins on Moscow's crude shipments to Asian buyers.
