Russian Urals crude oil discounts hit record levels in India as US sanctions intensify

Russian Urals crude trading at a $10 per barrel discount in India as US sanctions on major energy firms force refiners to find alternative global sources.

洞察:
Russian RURUFebruary Urals crude oil cargoes are trading at record-wide discounts of $10 per barrel against dated Brent Crude Oil in India ININports as of January 26, 2026. This $10 per barrel discount represents a $3 to $5 per barrel increase from estimates for cargoes loading in autumn 2025 and is described by market analysts as close to the widest on record.
FILE PHOTO: A model of an oil pump is seen in front of a Russian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A model of an oil pump is seen in front of a Russian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
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