Indian oil refiners have reportedly purchased around 60 million barrels of Russian oil for delivery next month, easing supply concerns at a time when the Middle East war is disrupting flows.

According to Bloomberg, the deliveries were ordered at a premium of $5 to $15 per barrel over Brent. The volume is similar to purchases made this month but more than double the February figure, the report states, citing analytics firm Kpler. India's Reliance Industries, operator of the world's largest refining complex, meanwhile, purchased 5 million barrels of Iranian oil days after the U.S. temporarily lifted sanctions on Iranian crude, three sources familiar with the matter told Reuters.

The Indian refiner bought the oil from the National Iranian Oil Company, two sources said. One of them noted that the price was approximately $7 per barrel above ICE Brent futures. It was not immediately clear when the oil would be delivered.

Earlier this month, the United States said it had granted India a 30-day waiver on purchases of Russian crude as the war with Iran disrupts global supplies. Abandoning Russian oil purchases is expected to help ease global supply concerns, as India is the world's fourth-largest refiner and fifth-largest exporter of petroleum products.