Report
Indian refiners reportedly paying more for physical crude than futures prices suggest
The Economic Times reports that Brent spot prices averaged about $12 a barrel above November futures from September 1 to 22, with the gap reaching as much as $22.
TLDR
The Economic Times reports that Indian refiners are paying more for physical crude than headline futures prices suggest. It says constrained Gulf supplies have kept the physical market tight, while refiners’ costs also depend on grade differentials and contract terms.
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