Med crude-Urals differentials unchanged, US weighs tariffs on India for Russian oil buying
MOSCOW, Aug 5 (Reuters) - Urals oil differentials to dated Brent were stable on Tuesday, while U.S. President Donald Trump said he would increase the tariff charged on imports from India for the country's purchases of Russian oil.
Trump's threat to India over its purchases of Russian oil started on July 31, when he announced a 25% tariff for Indian goods, along with an unspecified penalty.
Trump said on Tuesday he would raise the tariff on imports from India from the current 25% "very substantially" over the next 24 hours, in view of New Delhi's continued purchases of Russian oil.
India is a major buyer of Russian oil and the largest importer of Urals oil grade. Meanwhile, Urals oil supplies to India have remained mostly stable in recent days, traders said.
An Indian government source said India's purchases of Russian oil have helped to stabilise global oil prices by easing the pressure on supplies from other regions.
Trump said earlier the penalties on India for its Russian oil imports will come if Moscow does not agree to a ceasefire in Ukraine by the deadline at the end of this week.
PLATTS WINDOW
No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Tuesday.
NEWS
Russia's seaborne diesel and gasoil exports fell 5% in July from June to about 3.26 million metric tons due to lower production amid refinery maintenance and strong domestic demand, according to LSEG shipping data and market sources.
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