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In a first, Reliance Industries buys 1 mn barrels of crude oil from the US

Reliance bought 1 million barrels each of West Texas Intermediate (WTI) Midland and Eagle Ford crude

Reuters  |  New Delhi/Singapore 

oil prices
An oil rig drilling a well at sunrise, owned by Parsley Energy Inc. near Midland, Texas (US) | Photo: Reuters

Ltd , owner of the world's biggest refining complex, has bought its first ever cargoes from the United States, drawn by the oil's economics after the price spread between U.S. crude futures and Brent futures widened, three trade sources said on Tuesday.

Reliance bought 1 million barrels each of West Texas Intermediate (WTI) Midland and Eagle Ford crude which are expected to arrive in November, they said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, October 03 2017. 13:59 IST
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