Russia Sells Most Oil Despite Price Cap To India And China

India and China have bought most of Russia's oil in April at prices above the Western price cap of $60 per barrel.
The Western price cap will remain unchanged for now, despite pressure from some EU countries to lower it.
Russian Urals oil cargoes loaded in the first half of April are mostly heading to India's and China's ports.
Average discounts for Urals were at $13 per barrel to dated Brent on a DES basis in Indian ports and $9 to ICE Brent in Chinese ports.
Lower freight rates and smaller discounts for Urals against global benchmarks nudged the daily price of the grade back above the cap earlier in April from a period of trading below.