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Trump Is Winning Over Fastest Growing Oil Market at Iran's Risk

  • India’s top refiner signs its first U.S. crude term tender
  • Indian Oil signs U.S. term tender as precursor to longer deal
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Why Oil Futures Might Pop Higher in the Near Term

One of Iran’s biggest oil customers is buying more U.S. crude as President Donald Trump sticks to his pledge to squeeze the Persian Gulf nation’s energy trade.

State-run refiner Indian Oil Corp., which had been buying U.S. crude in the spot market, signed a term tender to purchase American oil for delivery every month between November and January, according to Finance Director Arun Kumar Sharma. That will help more than double the company’s shipments from the U.S. so far this year compared to last fiscal year.