Affected by the escalation of the situation in the US and Iran and Ukraine's attack on Russian energy facilities, global crude oil supply risks have increased. Russian crude oil was traded at a premium in the Indian market for the first time since the end of May. According to data, Russia's main export grade Ural crude oil was shipped from western ports to the west coast of India via tankers. On Thursday and Friday, there was a premium of 0.4 US dollars per barrel compared to Brent spot crude oil, which is the international benchmark for physical trading. The data showed that in absolute terms, the price of Ural crude oil on the west coast of India rose to 90.10 US dollars per barrel on Friday. This price includes shipping costs, while the average price of crude oil from western Russian ports is $63.425 per barrel. It is currently unclear whether this delivery price difference, that is, the difference between the export price and the CIF price, will be owned by Russia. The price is still above the $59 per barrel benchmark oil price set in Russia's budget for this year. About one-fifth of Russia's fiscal revenue comes from the oil and gas industry, so it can benefit from the Middle East conflict.

Affected by the escalation of the situation in the US and Iran and Ukraine's attack on Russian energy facilities, global crude oil supply risks have increased. Russian crude oil was traded at a premium in the Indian market for the first time since the end of May. According to data, Russia's main export grade Ural crude oil was shipped from western ports to the west coast of India via tankers. On Thursday and Friday, there was a premium of 0.4 US dollars per barrel compared to Brent spot crude oil, which is the international benchmark for physical trading. The data showed that in absolute terms, the price of Ural crude oil on the west coast of India rose to 90.10 US dollars per barrel on Friday. This price includes shipping costs, while the average price of crude oil from western Russian ports is $63.425 per barrel. It is currently unclear whether this delivery price difference, that is, the difference between the export price and the CIF price, will be owned by Russia. The price is still above the $59 per barrel benchmark oil price set in Russia's budget for this year. About one-fifth of Russia's fiscal revenue comes from the oil and gas industry, so it can benefit from the Middle East conflict.