Saudi Aramco stops crude supplies to India; higher costs loom for replacement oil

Saudi Aramco has halted crude oil supplies to Indian refiners until further notice following an attack on its critical East-West pipeline, Sanjeev Choudhary reports for The Economic Times. While Indian refiners are expected to find replacement crude, rising oil prices and freight costs could make those imports more expensive. Brent crude was trading around $108 a barrel on Wednesday. Saudi Arabia has also sold some spot cargoes to traders for potential delivery to Indian refiners.