India Weighs Cheap Russian Oil Against Costly U.S. Trade Commitments

Russia’s flagship crude, Urals, is being offered in India at a widening discount to Brent, with the differential now at $11 per barrel and testing the appetite of Indian refiners amid the trade deal with the U.S. that calls for limited purchases of Russian oil. Sellers are offering Urals at an $11 per barrel discount this week, widened from about $9 a barrel ten days ago, anonymous traders involved in the offerings told Bloomberg on Wednesday. Typically, such steep discounts would have Indian refiners rushing to lock in purchases.…