For spot crude oil bought in the Middle East, if the seller wants to 

take delivery against the September contract, the crude needs to 

be delivered to our designated storage facility and the standard 

warrant needs to be created by the end of August. For crude oil 

to be loaded onto ships by August, the transaction and pricing 

process would have to take place in July. Therefore, the seller 

needs to consider the price dierential between the places of 

origin and destination, the freight rate, and the shipping schedule 

before trading futures. For the crude oil that is already stored in an 

INE-designated facility and the filing for which has already been 

completed, the seller can sell and deliver it at any time based on 

market conditions, with consideration given to the cost of storage 

fees.

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