Reliance Industries is reportedly re-engaging with Russian crude purchases after the U.S. granted India a one-month waiver to import Russia-origin oil loaded on ships by March 5, according to Bloomberg. The move highlights how geopolitical tensions in the Middle East and disrupted Iranian flows are redirecting trade toward discounted Russian barrels, potentially influencing regional refining margins and benchmarks like Oil – Brent Crude and Oil – US Crude.
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Over the past month, Oil – US Crude has advanced about 26.10%, while Oil – Brent Crude has risen roughly 24.29%, underscoring a strong upward trend amid supply-risk repricing. Daily technical indicators currently point to a Buy bias for U.S. crude and a similar Buy signal for Brent, suggesting near-term momentum remains constructive despite policy and sanctions-related uncertainties. Investors can explore more updates, prices, and analysis across global markets at Commodities.