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ReportedShipping, energy & marketsMumbai, India

India's BPCL buys 1 million barrels of U.S. WTI crude

Mountain Time
Local time
7:00 PM in Kolkata
Where
Mumbai, India

Bharat Petroleum bought 1 million barrels of U.S. West Texas Intermediate crude for delivery to Mumbai in late December or early January, OilPrice.com reported, citing Reuters trade sources. The cargo carried a premium of about $18 per barrel over Dated Brent as freight rates eased from early-October records.

Why it matters

The purchase secures a U.S. cargo for BPCL's winter refinery supply as shipping costs change the relative cost of available crude grades.

Source

Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels