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

Market Intelligence Analysis

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Why This Matters

India is considering purchasing cheap Russian oil despite a trade deal with the U.S. that limits Russian oil imports, with discounts reaching $11 per barrel.

Market Impact

Market impact analysis based on neutral sentiment with 80% confidence.

Sentiment
Neutral
AI Confidence
80%
Time Horizon
Short Term

Article Context

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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.…

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Original article published by OilPrice.com on February 4, 2026.
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