BPCL, Japan’s Taiyo Oil buy US crude via tender

Bharat Petroleum Corp and Japan’s Taiyo ‌Oil bought crude from the United ​States this week, ⁠according to trading sources, as the refiners seek to diversify supplies amid the ‌Middle East conflict.

BPCL bought West Texas Intermediate crude from ‌trading house Vitol, four sources ‌said.

Two ⁠of them said the ⁠refiner has booked an Aframax tanker, which is capable of carrying up to ​600,000 barrels ‌of crude, for the purchase. The oil was bought at a premium around $6 per barrel to dated ‌Brent, they added.

Taiyo Oil ​bought 2 million barrels of U.S. crude for delivery in ⁠early October and the cargo was purchased at a premium of ‌around $6 per barrel above ICE Brent, a separate trader said.

Companies normally do not comment on commercial matters.

Asian refiners had reduced purchases of U.S. crude following ‌the U.S.-Iran ceasefire agreement. But supply ​risks increased this week following fresh attacks by both ⁠sides and President Donald Trump’s Wednesday announcement ⁠that he believed the ceasefire agreement was “over”.