New Delhi/singapore: Indian Oil Corp, the country’s largest refiner, has bought 5 million barrels of crude for October delivery, trade sources said, continuing its buying spree amid pressure from U.S. President Donald Trump to halt Russian purchases.
IOC bought 2 million barrels of U.S. Mars crude, 2 million barrels of Brazilian grades and another 1 million barrels of Libyan crude on a delivered basis via a tender, the sources said.
BP sold the high-sulphur Mars crude cargo at $1.5-$2 a barrel above September Dubai quotes, they added.
European trader Petraco sold the 1 million barrels of Libyan Sarir and Mesla crude and Totsa, the trading arm of TotalEnergies, sold the 2 million barrels of Brazilian Sepia and Sururu crude, the sources said.
(Reporting by Nidhi Verma in New Delhi and Florence Tan in Singapore; Editing by Jacqueline Wong)
