MNI Oil Weekly: India’s Energy Balancing Act
Dec-10 15:17By: Lawrence Toye and 1 more...
Gasoil+ 5
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Executive Summary:
- After the Modi-Putin meeting, Delhi faces a delicate balance between US relations and buying discounted Russian crude.
- Oil Markets: Crude prices have pulled back from a Brent front month high of $64.09/bbl on Dec. 5 but still holding within a $2.5/bbl range since Nov. 23 with focus switching back from geopolitical risks to oversupply concerns. Crack spreads and Gasoil time spreads have held relatively steady in the last week after the pull back from highs around Nov. 19.
- Analyst Views: See oil market views and outlooks from key analyst names
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