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

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.