Foreign Media: Russian Crude Oil May Regain the Favor of China and India
Owing to the Iran war, the price of Brent crude oil is approaching the $80 per barrel threshold. This was the last time this price was seen during the "12-day war" between Iran and Israel in June 2025.
On Monday, March 2, at the opening trade, the price of Brent crude oil was $79.44 per barrel. At the same time, the price of Urals crude oil, Russia's flagship crude, continued to fall, currently trading at $65.49 per barrel.
US sanctions have severely impacted the price of Urals crude oil, leading India to significantly cut its purchases. However, Reuters believes that in the context of the Iran crisis, India may turn back to Russian crude oil.
Bloomberg speculates that China may also increase its purchases of Russian crude oil, but Beijing is obviously expected to require Moscow to provide significant discounts as usual.
Original article: toutiao.com/article/1858562014026752/
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