Indian Oil Corp's (IOC) gas oil (diesel) import tender for July delivery attracted lower offers than the previous two tenders for May and June which traders said reflected the current soft market.
In its last tender for June, IOC awarded the 1.0-per cent sulphur gas oil at more than $27 per tonne premium to the high of Mediterranean quotes, cost-and-freight (C-and-F) Indian east coast and more than $23 per tonne premium to Mediterranean quotes, C-and-F Kandla on the west coast.
Offers related to the high of Mediterranean spot quotes for the 1.0-per cent sulphur grade was more than $21 per tonne premium.
