Russian Urals crude oil arrives in India at a record price of $98.93 per barrel

LootboxPhobia · 2026-03-16T19:43:40+00:00

According to Argus Media data, Russian Urals crude oil deliveries to India reached $98.93 per barrel on Friday, hitting the highest level since early 2022, with the discount to Brent crude narrowing to $4.80 per barrel. This price increase is related to the Middle East conflict and the United States easing purchase licenses.

LootboxPhobia

2026-03-16 19:43:40

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Investing.com – According to data from Argus Media, the price of Ural crude oil arriving on the Indian west coast on Friday reached $98.93 per barrel, the highest level since early 2022 when Russia’s invasion of Ukraine led to a shift in oil exports to India.

This transportation-inclusive price rose after the U.S. eased restrictions allowing countries to purchase Russian crude oil.

Data shows that on Friday, the discount for Russian crude oil shipped to Indian ports compared to the global benchmark Brent spot price narrowed to $4.80 per barrel, the lowest in over four months.

The price surge occurred amid ongoing Middle Eastern conflicts that continue to push global oil prices higher.

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