Oil and Natural Gas Corp (ONGC) sold a cargo of Sudanese Nile Blend crude at the lowest differential in over a year for a tender, a trade source said.

ONGC sold the 600,000-barrel May-loading cargo of Nile Blend to trader Arcadia at a discount of about $6.50 a barrel to the Minas Indonesia Crude Price (ICP), the lowest differential since the firm sold a similar-sized cargo at that differential in March 2009.

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