PetroChina hiked March settlement prices of both Daqing crude and Jidong crude supplied to Sinopec's subsidiary refineries by Yuan 325/mt to Yuan 5,652/mt, with tax inclusive, a source with Sinopec told C1.
Settlement prices of most of the other crude supplied to Sinopec swelled Yuan 275-340/mt, according to the source.
The gains could be mainly attributable to hefty rises in international crude prices in February, the source said.
C1's data showed that Brent benchmarks surged above US$110/bbl in February.
