Middle Eastern crude benchmarks eased on Wednesday as spot trades remained largely thin, while Russian Sokol crude shipments to Indian Oil Corp are delayed.

The Sokol crude shipments have been delayed by payment problems, forcing India’s biggest refiner to draw from its inventories and buy more oil from the Middle East, two sources familiar with the matter said.

IOC was supposed to receive six Sokol cargoes from late November to December, shipping data showed. This included NS Century, which was placed under U.S. sanctions last month.

These cargoes are now mostly floating around India and Sri Lanka while NS Century is heading towards Singapore, the data shows.

Half of Russia’s oil and petroleum exports in 2023 will have gone to China, while India’s share has risen in two years to 40%, Russia’s state news agencies cited Deputy Prime Minister Alexander Novak as saying in remarks published on Wednesday.

The United States has finalized contracts to purchase three million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) after the largest sale in history last year, the U.S. Department of Energy said.

Iran’s oil exports have reached $26.46 billion since March, Iranian state media reported on Tuesday, the Customs Administration head said, quoted by state media.

Yemen’s Iran-backed Houthi militia claimed responsibility for a missile attack on Tuesday on a container ship in the Red Sea and for an attempt to attack Israel with drones.

France’s CMA CGM is increasing the number of vessels travelling through the Suez Canal, it said on Tuesday, joining Maersk in returning to the area after U.S.-led efforts to prevent attacks.
Source: Reuters (Reporting by Jeslyn Lerh; Editing by Shailesh Kuber)