29 August 2025: 09:30 BST
What happens when an unstoppable force meets an immovable object? Sometimes things get broken or… one side gives up. Well, in this case, India keeps buying Russian oil, no matter how loudly Trump screams and shouts. This was the key feature of the month, as India sought to replicate the Chinese approach of ‘you shall not pass’, giving him the cold shoulder. While Modi was playing it cool, Indian traders got angry – and you wouldn’t like them when they’re angry! They are feeling their independence and Modi got elected on a strength and a MIGA platform. And MIGA and MAGA don’t mix too well. Apparently, India’s prior agreement to buy more American energy products didn’t placate Trump’s ire for their continued purchases of Russian supply. India’s not doing too badly… Q2 GDP smashed expectations, growing at 7.8% – India doesn’t need America, America needs friends.
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
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