{
  "id": 12106604,
  "title": "$100/barrel crude on screen, $145 in market",
  "url": "https://urgent.news/2026/10/05/100-barrel-crude-on-screen-145-in-market",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-05T07:49:16.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/industry/energy/oil-gas/100/barrel-crude-on-screen-145/barrel-in-physical-market-kotak-securities-sees-two-prices/articleshow/134689596.cms"
  },
  "original_language": "en",
  "account": "Mumbai - The gap between screen prices and actual market prices for physical crude oil is widening due to escalating shipping costs, with a $100-a-barrel screen price potentially escalating to $145 per barrel, according to Anindya Banerjee, Head of Commodities Research at Kotak Securities.\n\nBanerjee explained that the oil market has become increasingly intricate, with multiple prices for the same product, further complicated by rising shipping costs. VLCC freight rates have crossed $1 million, adding another $25 or more per barrel to the physical market price. The analyst emphasized that the price on the screen is a hypothetical figure, while the actual price at which physical crude is cleared differs.\n\nAt the time of reporting, Brent crude was trading at around $101.31 per barrel, while crude oil was at $89.71 per barrel. Banerjee also pointed out that the oil market continues to command a substantial premium, with the Russia-Ukraine war having a more significant impact than the conflict in West Asia. This premium is due to refinery outages, and the war in Ukraine continues to exert greater influence on the oil market than the conflict in West Asia.\n\nDespite geopolitical disruptions, India remains well-positioned. The country has adequate oil supplies and refining capacity to export refined products, making it a significant swing supplier to the world. India's surplus refining capacity and diversified sourcing protect it from physical shortages, even as price shocks are inevitable if global crude prices surge.\n\nBanerjee also discussed gold and silver prices, stating that as long as US yields remain elevated, significant upside is unlikely. The market will await a shift in the US interest-rate cycle. Meanwhile, the RBI's Monetary Policy Committee is set to meet on Monday, with Banerjee predicting a rate hike due to the central bank's substantial liquidity cushion. A 25 basis point hike in October is likely, with another increase in December bringing rates closer to 5.75 percent, depending on oil price trends.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}