Overview

• Indian Oil bought 5 million barrels of WTI for October–November delivery, BPCL secured 2 million, and Reliance purchased 2 million via Vitol, according to traders and Reuters reporting.
• An open arbitrage to Asia and lower U.S. Gulf freight made WTI more attractive than key Middle East grades, prompting extra August bookings.
• Reuters sources say Indian refiners plan to lift Russian crude intake in September by roughly 10–20%, equal to about 150,000–300,000 barrels per day.
• The United States raised duties on Indian goods to a combined 50%, tying the extra levy to Russian oil purchases, as adviser Peter Navarro publicly accused New Delhi of aiding Moscow.
• ONGC’s chairman said group refiners will keep buying Russian barrels if economical, and Indian sources insist trades follow G7/EU price‑cap rules with settlements often in AED.