Indian Oil Corp. Buys Another U.S. Crude Cargo

Indian Oil Corp has bought another cargo of U.S. West Texas Intermediate for delivery in October, Reuters reported today, citing unnamed industry sources. The deal is part of a recent streak of U.S. oil purchases following President Trump’s threat to impose additional tariffs on Indian exporters to the United States if the country continues buying Russian crude. The October deal was priced at a premium of between $2.80 and $2.90 to dated Brent, Reuters’ sources said. It is price that pushed India to step up Russian oil purchases in…