Indian refiners have reportedly settled recent imports of Iranian crude in Chinese yuan via ICICI Bank’s Shanghai branch, taking advantage of a one-month U.S. waiver that permits oil loaded on Iranian tankers until April 19. The move highlights evolving payment channels in oil trade and may carry implications for benchmark prices of both Oil – Brent Crude and Oil – US Crude as market participants assess supply risks and sanctions policy.
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Over the past month, Brent has slipped about 1.76%, while U.S. crude is marginally lower by roughly 0.38%, reflecting cautious trading amid shifting geopolitical and currency dynamics in the oil market. On a 1-day basis, technical indicators point to a Buy signal for Brent and a more neutral Hold stance for U.S. crude, suggesting investors may be differentiating between global benchmark exposure and U.S.-focused contracts as they gauge short-term direction.
Investors can explore more updates, prices, and analysis across global markets at Commodities.