After India received temporary approval from the U.S., over 15 million barrels of Russian oil are heading to Indian ports

Gate News reports that on March 6th, ship tracking data shows that over 15 million barrels of Russian crude oil are currently in waters near India. This provides India with a quick way to respond to Middle Eastern supply shortages after the U.S. government issued a temporary permit on Thursday evening allowing purchases. These crude oils are distributed across a dozen oil tankers in the Arabian Sea and Bay of Bengal, and they appear to be unsold or without designated ports of destination, with an expected arrival in India within a week. Additionally, about 8 ships carrying approximately 7 million barrels of Ural crude oil are waiting in Singapore waters and may also arrive in India within a week. Furthermore, more cargo is being transported eastward through the Mediterranean and Suez Canal, with a possibility of reaching India within a month. According to Kpler data, oil tankers loaded with Russian oil had already begun changing course and signaling towards Indian ports before the U.S. government issued the permit. Currently, about 18 Ural crude oil ships are heading towards India. Analyst Sumit Ritolia from data intelligence firm said that refiners may quickly resume procurement, with daily purchase volumes potentially exceeding 2 million barrels in the short term. The deep discounts on Russian crude oil may significantly narrow or even turn into premiums.