India refiners may buy more Russian oil as discounts deepen

Indian refiners are expected to boost oil imports from Russia in the coming months, as trade talks with Washington drag on and discounts widen amid ample supplies.

Discounts on Urals crude loading in November are $2-to-$2.50 a barrel to Dated Brent, making it attractive, according to people familiar with the developments. That’s cheaper than discounts of about $1 a barrel in July-to-August, when supplies were tight due to Moscow’s prioritizing local customers.