Russian crude exporters are offering deeper discounts to Chinese buyers as Indian refiners curb purchases following New Delhi’s recent trade understandings with the United States, according to trade sources cited by Reuters. The premium ESPO blend shipped from Kozmino is now reportedly priced at nearly $9 per barrel below Oil – Brent Crude, compared with a $7–$8 discount in prior months, while similar pressure is emerging on Urals prices. The wider differentials highlight Russia’s growing reliance on Chinese demand to clear its barrels amid shifting geopolitical dynamics and evolving sanctions compliance, which may in turn influence global crude flows and benchmark pricing.
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Over the past month, benchmark prices have trended higher despite the localized discounting on Russian grades: Oil – US Crude has gained about 9.7%, while Brent has advanced roughly 10.5%, reflecting resilient global demand and ongoing supply discipline from key producers. From a short‑term technical perspective, both assets currently show a Strong Buy signal for WTI and a Strong Buy signal for Brent, indicating that momentum remains skewed to the upside despite regional discounting and potential demand uncertainties. Investors can explore more updates, prices, and analysis across global markets at Commodities.