Indian Oil Corp buys 2 million barrels of US WTI crude for October: report

Indian Oil Corp (IOC) has purchased two million barrels of U.S. West Texas Intermediate crude for October delivery from Mercuria. The purchase occurred at a premium of $2.80-2.90 a barrel to dated Brent. This move comes as U.S. President Donald Tr...

By Reuters | Aug 15, 2025, 09.49 AM IST

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.

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