Vietnam makes first US oil purchase in 2025, sources say
SINGAPORE, Aug 14 (Reuters) - Vietnam's Binh Son Refining and Petrochemical BSR.HM (BSR) has bought one million barrels of U.S. West Texas Intermediate crude for November delivery, the country's first U.S. oil purchase in 2025, sources said on Thursday.
BSR bought the light-sweet crude from Mercuria, the sources said. It typically processes domestic crude.
A board member of BSR declined to comment on the deal when reached by Reuters. The company did not immediately respond to an email request.
In deals negotiated with Washington to avoid high U.S. tariffs and reduce trade surpluses with the United States, Vietnam and other countries such as Indonesia and Thailand have committed to buy more U.S. crude.
At the same time, WTI has become more competitive in Asia for cargoes arriving in November after Middle East oil prices strengthened.
Data from analytics firm Kpler show Vietnam's last imports of U.S. crude was in December 2024. The Southeastern nation mainly buys crude from Kuwait, Brunei and Libya.
Related Articles
What Is Worldcoin? Why Did WLD Surge Suddenly, and What’s Next?
Worldcoin is evolving from a “hype token” into a foundational layer for global identity. Its fusion of biometrics, blockchain, and financial inclusion has earned growing recognition from users and institutions. If it can overcome technical hurdles, launch real-world payment use cases, and stabilize
Why Does Hyperliquid Keep Hitting New Highs? Can HYPE Continue Its Rally?
Hyperliquid is a decentralized derivatives trading platform launched in 2023, designed to deliver high-performance, low-latency, permissionless trading. Its mission is to offer a self-custodied and transparent experience that rivals, or even surpasses, centralized exchanges (CEXs) — earning it the n
Fed to Cut Rates: All Asset Prices Up!
TradingKey - The Federal Reserve is almost certain to restart its interest rate cut cycle on 17 September this year. After in-depth research, we have concluded that cryptocurrencies, the broader U.S. stock market, and short-term U.S. Treasury bonds will all go up.
Unlocking Gold’s Next Leg: $4,000 in Reach by 2025？
TradingKey - Gold has kicked off a fresh uptrend in early September, breaking out of months of compression and reclaiming key territory. The decisive move above $3,500 establishes a new support base and puts higher objectives back on the table for the weeks ahead
