Sri Lanka’s latest crude oil tender has ruled out the import of US WTI (West Texas Intermediate) crude after it failed to meet price-competitiveness requirements, a senior official confirmed. Although the government recently decided to open its tenders to include US crude in order to reduce the trade gap with the United States, the latest evaluation showed WTI was still not affordable for Sri Lanka’s current fuel import structure.
According to the official, only Murban crude qualified in the tender that closed on October 28. “WTI crude came very close. It will be competitive enough in the future. Then, we can place orders to import fuel from the United States,” he said, expressing confidence that pricing trends may shift in upcoming tenders. The Ceylon Petroleum Corporation (CPC) remains optimistic that future market movement may allow WTI crude to enter the Sri Lankan supply mix.
Sri Lanka currently imports around 180,000 tonnes of crude oil per month and is seeking wider supplier options to stabilise long-term energy security. The inclusion of WTI in tender calls is part of a strategic policy to expand sourcing and strengthen economic ties with the US.
Meanwhile, global oil prices showed slight upward movement. Brent crude futures increased by 45 cents to $64.89 a barrel, while US WTI crude edged up 46 cents to $61.02. Analysts said the rise followed stronger US fuel demand data, though weaker economic signals from major oil-importing nations have limited price surges.
For now, Sri Lanka will continue importing Murban crude and other cost-effective blends until WTI falls into a more competitive pricing band. Whether the US crude enters the local fuel market will depend on global market fluctuations, currency strength, and tender outcomes in the months ahead.
