HPCL Buys 2 Million Barrels of Oman Crude for July
Hindustan Petroleum Corp purchased two million barrels of Oman crude from Vitol for July delivery. The deal was priced at a discount to June dated Brent.
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HINDUSTAN PETROLEUM CORP purchased 2 million barrels of Oman crude for July delivery, traders said Wednesday. The India-based refiner secured the volume from Vitol at a 10-20 cent discount to June Brent prices. This purchase secures feedstock outside the Strait of Hormuz as HPCL manages summer supply requirements.
Traders said the transaction involves crude exported from the Mina Al Fahal terminal, which allows HPCL to bypass the Strait of Hormuz for this specific cargo. HPCL and Vitol typically do not comment on commercial deals.
