Russian Oil Freight Rates Drop Amid EU Price Cap Debate

  Published 11 months ago

Russian oil freight rates to India fell in May-June due to high tanker availability, but risks rise from the EU's proposed $45 price cap.

  • Freight costs from Baltic ports to India dropped to $5.5 M-5.7M from $6M in April-May.
  • Urals crude prices stabilized below $60, enabling Western tankers to re-enter the market.
  • EU's $45 price cap proposal could reverse current rate declines and increase shipping costs.

You might like these

D-Mart Q1 Profit Up, Margins Dip

Netweb Bags Rs 1,734 Cr AI Deal

JioBlackRock Gains Mutual Fund License

India Gold Loan Rules Face Pushback

Markets Dip as RBI Holds Rates Steady

PNC Infratech to Build Bharatpur Flyover Project

India's 2025 Monsoon Forecast: Above Normal Rainfall

News that matters the most ⚡