June 28, 2018 / 8:25 AM / 9 months ago

Taiwan's CPC buys 5 million barrels U.S. WTI Midland crude for August-September

SINGAPORE (Reuters) - Taiwanese refiner CPC Corp has bought about 5 million barrels of U.S. WTI Midland crude for delivery over August to September, two industry sources said on Thursday.

CPC last bought 7 million barrels of U.S. WTI Midland crude for delivery in July-August, the largest volume purchased so far in its monthly tender.

A wide WTI-Brent price spread has been encouraging more U.S. crude to flow into Asia.

But a trade dispute between the United States and China is expected to slow the flow of crude oil from the U.S. to Asia, one of the sources said.

“Sellers are worried about (the trade war) so they have lowered the prices but demand is down,” the source added.

Reporting by Jessica Jaganathan; Editing by Sunil Nair

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