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

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An oil rig drilling a well at sunrise, owned by Parsley Energy Inc. near Midland, Texas (US) | Photo: Reuters
Reuters New Delhi/Singapore
Last Updated : Oct 03 2017 | 1:59 PM IST

Reliance Industries Ltd , owner of the world's biggest refining complex, has bought its first ever crude oil 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.)

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First Published: Oct 03 2017 | 1:59 PM IST

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