Free Trial

India's Bharat Buys Sokol Cargo, the First Sale in Months

OIL

Trade in the Far East Russian Sokol crude grade has resurfaced in September after nearly four months' absence after spot liquidity for the once-popular medium sweet grade disappeared according to Platts.

  • The cargo is loading this month, set to discharge in India. It is for 700,000 bbls of Sokol with discharge at Bharat Petroleum’s Mumbai refinery.
  • Price levels were heard to be heavily discounted according to Platts. Liquidity for the grade has dried as buyers began shunning Russian cargoes.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.