Reliance (REL IS) is looking to buy Russian oil after the US granted India a licence to temporarily buy cargoes, Bloomberg reports citing sources
Newsquawk Staff ·
Reliance (REL IS) is looking to buy Russian oil after the US granted India a licence to temporarily buy cargoes, Bloomberg reports citing sources.
What it means
Reliance's move to buy Russian oil following the US granting India a license is a significant geopolitical development that underscores shifting energy alliances. This could lead to increased oil supply from Russia, potentially affecting global prices and influencing market sentiment toward commodities, especially crude oil and associated currencies like the ruble and INR.
Sources
- Al-Mayadeen correspondent in Iran says Iranian officials believe that Trump wants to bring the nuclear issue into the negotiations, which Iran rejects
- Ukrainian President Zelensky says negotiations between Ukraine, Russia and the US could take place as early as November 10th
- US Midterms (6 days out): Florida flips to a Republican early-vote lead and Kansas narrows further; Crystal Ball shifts House and Senate races towards Democrats
- Israeli election results show Netanyahu's bloc with 53 seats, Eisenkot's bloc with 47 and Arab parties with 19, following the counting of all votes excluding double-envelope ballots, i24 reports
- Atomic Energy Organization of Iran Spokesman says protocol for building small reactors with Russia is being finalized
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