Price of Middle East conflict: Indian refiners forced to buy oil at premium; Russian discounts vanish

Aug 19, 2026 - 13:30
Price of Middle East conflict: Indian refiners forced to buy oil at premium; Russian discounts vanish

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The surge in available crude following the temporary truce had also increased the discounts offered on Russian and Venezuelan oil. Since then, the discount on Russian crude has largely disappeared, while the price reduction on Venezuelan barrels has narrowed substantially.

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