Russia’s Cheap Oil Ride to India Hits a Fragile Plateau ...Middle East

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Russia’s Cheap Oil Ride to India Hits a Fragile Plateau
Freight rates for Russian Urals crude from Baltic ports to India have dipped again in July, falling to $5.0–$5.3 million per Aframax shipment—down from $5.5–$5.7 million in June—as more tankers become available. But traders warn: don’t get too comfortable. A new round of EU sanctions and a pending statement from Donald Trump could send rates—and risks—right back up. The drop in shipping costs reflects a brief window of flexibility. With Urals crude still priced under the $60 per barrel price cap, Western…

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