Favorable Prices Prompt India to Raise U.S. Oil Purchases ...Middle East

Competitive prices for U.S. crude in an open arbitrage window to Asia have prompted Indian state and private refiners to accelerate buying of American oil in August, trade sources told Reuters on Friday. A few weeks ago, rising prices of Middle Eastern grades opened the arbitrage window for West Texas Intermediate (WTI) to flow to Asia. Key grades from the Middle East, such as Dubai and Murban, have seen their prices rise in recent weeks on the back of strong demand for high-sulfur crude in Asia and reduced shipments of Murban. Moreover, the…

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