Russian crude oil prices jump on China, India demand

Commodities Russian crude oil prices jump on China, India demand Higher shipping costs have Asian buyers looking for supplies closer to home Steam and oil-processing emissions rise from chimneys of Gazprom Neft's Omsk Oil Refinery in the Siberian city of Omsk, Russia. © Reuters RIONA GOMI November 12, 2026 05:46 JST TOKYO -- Russian crude oil, still the target of international sanctions, is trading at unusually high prices, with its premium over international benchmark Brent rising to a record high. Read Next Energy Fuel prices drive Japan, Europe electricity futures to 4-year high Energy Petrovietnam CEO sees a future of nuclear and wind power Energy Mitsubishi Heavy gears up to boost US gas turbine production Inflation Japan girds for new wave of food price hikes as tanker rates soar Currencies AI and oil worries rattle Asian currencies from Taiwan to Philippines International relations Energy keeps Japan-Russia ties hanging on by a thread Energy Oil tanker rate surge pushes Asia, Europe refiners into the red Energy Myanmar oil refinery comes back onstream to cut reliance on fuel imports Transportation Prices of 15-year-old oil tankers top new builds as Iran war roils shipping Energy Vietnam offshore oil and gas draw Japan, US, Russia to South China Sea Latest on Commodities Commodities Malaysian palm oil producer turns to solar for steadier income Commodities India's gold imports down 81%; global prices could be impacted Commodities Australia's Woodside to exit long-stalled Timor gas project Sponsored Content About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.