Chemicals Updates

Middle East Sour Crude Daily Market Analysis / Indian refiners seek June-July crude cargoes / US Iran blockade boosts Russian ESPO premium / South Korea-Canada deal cuts tariffs on heavy sour

May 20, 2026

End-user demand for prompt barrels continued to emerge April 23, with two Indian refiners heard seeking sour or sweet crude. Indian Oil Corp. is seeking various sweet and sour crude grades as a single grade or co-loads, in 1 million or 2 million barrel-sized cargoes, for June 26-July 5 delivery to Vadinar, June 27-July 6 delivery to Paradip and July 1-10 delivery to Chennai through a tender closing April 24, with same-day validity. Of the grades sought, Murban loading is limited to Fujairah only. Hindustan Petroleum Corp. Ltd. sought indicative offers for up to 2 million barrels of sour or sweet crude, for June 15-25 delivery to Visakhapatnam through a tender that closed April 23. This follows its earlier purchase of 2 million barrels of Murban for June 11-20 delivery....

Exclusive market movement data, shipping lineups, demand signals and pricing rationale continue in full report.

Unlock complete article access with a paid account.

Continue Reading With Membership

This is a preview. Login and activate a paid plan to read the complete article.