Indian Oil Corp Ltd logo is seen displayed in this illustration taken, April 10, 2023. REUTERS
SINGAPORE, Aug 15 (Reuters) – State refiner Indian Oil Corp (IOC) has bought two million barrels of U.S. West Texas Intermediate crude for October delivery, three trade sources said on Friday.
It purchased the cargoes from Mercuria at a premium of $2.80-2.90 a barrel to dated Brent, they added, speaking on condition of anonymity.
IOC recently snapped up crude from the United States, Canada and the Middle East as U.S. President Donald Trump ramped up pressure on India for purchases of Russian oil ahead of talks with President Vladimir Putin to reach a ceasefire in Ukraine.
Reporting by Florence Tan and Siyi Liu in Singapore; Editing by Clarence Fernandez
