Sri Lanka, Nov. 6 -- Despite Sri Lanka's decision to import crude oil from the United States, its WTI (West Texas Intermediate) crude has not qualified to enter the Sri Lankan market because it is not price -competitive this time, an official said.

However, the Ceylon Petroleum Corporation (CPC) remains hopeful that WTI crude would become competitive for Sri Lanka to import in the near future.

As part of Sri Lanka's decision to reduce the trade gap with the U.S., the Sri Lankan government decided to include WTI crude when calling for tenders periodically for imports. According to the latest tender which closed on October 28, the CPC did not find it price- competitive.

The official said that only Murban crude qualified this time.

"WTI ...