🛢️ India’s IOC Secures Iraqi Crude at a Deep Discount
According to Jin10, Indian Oil Corporation (IOC) purchased 2 million barrels of Iraqi Basrah Medium & Heavy crude for October shipment.
💰 Deal price: Around $28 below the October Dubai crude benchmark on an FOB basis
🏦 Seller: Mercuria
📅 Loading window: October 21–31
A notable discount in physical crude markets that traders are watching closely.