BPCL purchases 1 million barrels of US crude
after close1 source ↓written by the desknot a recommendation
- of West Texas
- 1 million barrels
Bharat Petroleum Corp (BPCL) has secured 1 million barrels of West Texas Intermediate crude from Vitol, amid rising supply risks due to Middle East tensions. The crude was purchased at a premium of $6 per barrel to dated Brent. An Aframax tanker has been booked for this transaction, highlighting BPCL's strategy to diversify its supply sources.
This move may enhance BPCL's refining margins and supply stability in a volatile market. 🛢️
Not investment advice. For informational purposes only.