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RUSSIAN OIL PREMIUMS SURGE AS MIDDLE EAST SUPPLY TIGHTENS
Russian Urals crude premiums in India jumped to $8/barrel over Brent, up from around $1 in August and the highest since May.
Middle East supply disruptions are pushing Indian and Chinese refiners toward Russian barrels, while Novorossiysk exports remain constrained.
Market angle: shrinking alternative supplies are dramatically strengthening Russia’s pricing power in Asia.
$CL
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