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The Economic Times

Economy / The Economic Times

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Refiners feel heat physical crude trades higher than futures prices

Indias oil refiners are paying significantly more for physical crude than the futures prices making headlines, as constrained Gulf supplies keep the physical market tight. Brent spot prices averaged about $12 a barrel above November futures between September 1 and 22, with the gap widening to as much as $22. Refiners actual costs are driven by physical-market benchmarks, grade differentials and contract terms rather than headline futures prices alone.

29 Sep 2026 12:44 am