On Thursday, the international benchmark Brent fell by about 1.8% to around $72.40 a barrel. That put it below the $72.48 mark recorded in late February, on the eve of the US and Israeli strikes on Iran.
According to Bloomberg, this demand remains one of the key forces that has supported gold’s historic rally in recent years.
According to Bloomberg, the rise in purchases is linked to expectations of heavier pressure on the power grid in the coming months and the need to secure stable fuel supplies in advance.
At a recent meeting with cabinet members, President Vladimir Putin forcefully raised the need to normalize monetary policy and secure industrial growth.
If confirmed, this would mark the first such delivery amid Moscow’s efforts to sustain energy exports, Bloomberg notes.
Nayara is a major player in India: its refinery of about 400,000 barrels per day accounts for 8% of the country’s processing capacity, and its network of filling stations covers roughly 7% of the retail fuel market.
According to analysts at Kpler and Energy Aspects, Chinese companies have already bought between 10 and 15 cargoes of Urals for October and November delivery — significantly more than their usual intake.
Mandatory quotas for the sale of foreign currency proceeds have been set to zero.
Russia’s economy — reshaped by Vladimir Putin over the past two and a half years to serve the needs of war — is now facing perhaps its most serious crisis since the collapse of the USSR.
According to a Bloomberg survey of economists, Russia’s economy likely returned to growth in the second quarter of 2025, avoiding a technical recession despite the pressure of record-high interest rates.
Russia’s second-largest bank — VTB (VTB Bank PJSC) — is experiencing a steep drop in lending income, raising concerns among top managers and experts.
The government is being forced to implement a set of measures to pull the economy out of what the Central Bank calls a “balanced growth trajectory,” but which in reality resembles a freefall.
This marks a shift in global oil trade as President Donald Trump ramps up pressure on India over its purchases of Russian oil.
