Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
1 April | Oil

Trump’s proposed tariffs on Russian oil are forcing India to seek alternative suppliers

Brent
WTI Light Crude Oil
Trump’s proposed tariffs on Russian oil are forcing India to seek alternative suppliers

Indian refiners have rushed back to the market to secure alternative crude supplies after US President Donald Trump’s proposed restrictions on Russian oil sparked fears of supply disruptions, Bloomberg reports.

On Sunday, the US President pledged to impose secondary tariffs on buyers of Russian energy, sending oil prices higher. West Texas Intermediate (WTI) crude surged 3.1%, its biggest gain in nearly 11 weeks, the agency notes.

India is highly reliant on Russian oil imports, which accounted for nearly 40% of its total crude supplies in 2024. The South Asian country primarily purchased Urals oil. In recent years, India has shifted away from Middle Eastern and African oil suppliers, capitalizing on cheaper Russian crude.

Elena Dorokhina MarketCheese

Recommended

United States. Cushing Crude Oil Inventories. The value of the indicator has increased from -0.457M to 0.308M
10 December
United States. Crude Oil Inventories. The value of the indicator has decreased from 0.574M to -1.812M
10 December
United States. CFTC Crude Oil speculative net positions. The value of the indicator has increased from 65.6K to 74.9K
10 December
United States. API Weekly Crude Oil Stock. The value of the indicator has decreased from -2.48M to -4.8M
9 December
United States. CFTC Crude Oil speculative net positions. The value of the indicator has increased from 39.8K to 65.6K
5 December
Top news
United States. Trade Balance. The value of the indicator has increased from $-59.3B to $-52.8B
Yesterday at 1:30 PM
Switzerland. SNB Interest Rate Decision. The value of the indicator remained at the same level of 0%
Yesterday at 8:30 AM
United States. Fed Interest Rate Decision. The value of the indicator has decreased from 4% to 3.75%
10 December
Canada. BoC Interest Rate Decision. The value of the indicator remained at the same level of 2.25%
10 December
Australia. RBA Interest Rate Decision. The value of the indicator remained at the same level of 3.6%
9 December
All news

Forecasts

AUDCAD sell
Period: 19.12.2025 Expectation: 550 pips
AUDCAD trapped in consolidation zone
FA Other TA Other Technical analysis Indicators Fundamental analysis
Today at 10:09 AM 4
Lyra_Moonwell1
GBPUSD buy
Period: 19.12.2025 Expectation: 600 pips
GBPUSD sees 1.345 level as next target
Indicators Hot news Chart analysis
Today at 09:07 AM 7
Tom_Kern
Brent buy
Period: 31.12.2025 Expectation: 75 pips
Accumulate Brent crude to cover price gaps
FA Other Chart analysis
Today at 07:01 AM 8
Bruce_Powers
Brent buy
Period: 19.12.2025 Expectation: 140 pips
Brent crude gains as oil supply surplus beats record in 2026
FA Other Technical analysis Indicators and reports Indicators Fundamental analysis
Today at 06:17 AM 8
Emily_Foster
ETHUSD buy
Period: 31.12.2025 Expectation: 26000 pips
Bright outlook for crypto market pushes ETHUSD higher
FA Other Chart analysis
Today at 04:51 AM 9
Bruce_Powers
Gold buy
Period: 31.12.2025 Expectation: 800 pips
Buying gold from $4,230 support
FA Other Chart analysis
Today at 04:51 AM 15
McCarthy_Raymond
Go to forecasts