MRPL buys 1 million barrels from Oman at a $3 premium to Dated Brent as Middle East term supplies face disruptions.
Indian refiners are turning to West African and Omani crude due to shipping constraints in the Strait of Hormuz and Bab el-Mandeb. State-owned MRPL purchased 1 million barrels from Oman at a $3 premium over Dated Brent, reflecting tight Middle East supply routes.
The shift follows delays in term contracts from traditional Middle East suppliers. Trade sources indicate tenders are being used to secure alternative grades, though premiums remain elevated compared to pre-disruption levels.
No immediate market reaction was reported, but the trend signals ongoing supply chain adjustments in response to regional bottlenecks.