Reliance Rises 2.5% as India Gets US Waiver for Russian Oil

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US Issues 30-Day Waiver

Treasury Secretary Scott Bessent permits Indian refiners to buy Russian oil loaded on vessels before March 5. Waiver expires April 4. Only applies to oil already stranded at sea

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RIL Key Beneficiary

Reliance Industries stock jumps 2% to ₹1,284 as key buyer of Russian crude. Nomura identifies RIL as primary beneficiary with upside to ₹1,730 target from diesel crack spread surge

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Refining Margins Boost

Iran war disrupts Middle East supply—40% of India's oil imports affected. Diesel crack spreads surge on supply fears. Petrochemical margins also expected to rise significantly

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Russian Oil Premium

Urals crude now trades at $4-5/barrel premium to Brent vs $13 discount in February. India bought 6-8 million barrels in last 2-3 days. Russia remains top supplier at 21% of imports

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Energy Security Focus

India's crude stocks cover only 25 days demand. US expects India to buy more American oil long-term. Short-term waiver stabilizes global markets amid Strait of Hormuz shipping crisis

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With Our Subscription Plans

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Reliance Rises 2.5% as India Gets US Waiver for Russian Oil

US Issues 30-Day WaiverTreasury Secretary Scott Bessent permits Indian refiners to buy Russian oil loaded on vessels before March 5. Waiver expires April 4. Only applies to oil already stranded at sea

RIL Key BeneficiaryReliance Industries stock jumps 2% to ₹1,284 as key buyer of Russian crude. Nomura identifies RIL as primary beneficiary with upside to ₹1,730 target from diesel crack spread surge

Refining Margins BoostIran war disrupts Middle East supply—40% of India's oil imports affected. Diesel crack spreads surge on supply fears. Petrochemical margins also expected to rise significantly

Russian Oil PremiumUrals crude now trades at $4-5/barrel premium to Brent vs $13 discount in February. India bought 6-8 million barrels in last 2-3 days. Russia remains top supplier at 21% of imports

Energy Security FocusIndia's crude stocks cover only 25 days demand. US expects India to buy more American oil long-term. Short-term waiver stabilizes global markets amid Strait of Hormuz shipping crisis