Hormuz Bottleneck Pushes Indian Refiners Toward West African Grades

Several Indian refiners have recently bought crude from Oman and West Africa via tenders, trade sources told Reuters on Wednesday, as term supplies from the Middle East remain choked by the shipping constraints at the Strait of Hormuz and Bab el-Mandeb. State-controlled Mangalore Refinery and Petrochemicals Limited (MRPL) has acquired about 1 million barrels of crude oil from ‌Oman via a tender, at a premium of some $3 per barrel to Dated Brent, from Mitsui & Co Energy Trading Singapore, according to Reuters’ sources. In addition,…