India Increases Atlantic and Middle Eastern Crude Purchases as Russian Flows Face Constraints

India’s largest refiner, Indian Oil Corp., has stepped up purchases of non-Russian crude, securing multiple cargos from Angola, Brazil, and the United Arab Emirates as sanctions and payment constraints hamper Russian supply flows, according to Reuters. The deals reportedly include Murban and Upper Zakum grades from the UAE, as well as Angolan Hungo and Clove and Brazil’s Buzios, signaling a broader pivot toward Atlantic Basin and Middle Eastern grades. The shift underscores India’s growing role as a flexible demand center in the global oil market, with potential implications for trade routes and price differentials in key benchmarks such as U.S. crude Oil – US Crude (WTI) and international benchmark Oil – Brent Crude, as refiners seek to optimize margins amid evolving geopolitics.

Over the past month, WTI has advanced about 2.48%, while Brent has gained roughly 3.34%, reflecting tightness concerns linked to supply disruptions and rerouted flows as major buyers like India diversify away from Russian barrels. On a 1-day basis, technical indicators point to a short-term bullish bias in both contracts, with WTI flashing a Buy signal and Brent likewise showing a Buy signal, suggesting near-term momentum remains constructive despite ongoing macroeconomic and demand uncertainties. Investors can explore more updates, prices, and analysis across global markets at Commodities.