Chinese independent refiners have purchased Iranian oil at premiums to Brent for the first time in years, following falling benchmark prices and expectations of India purchasing more cargoes. The Iranian oil typically trades at discounts to Brent due to the sanctions. At least two refiners in Dongying, a major hub for independents, purchased Iranian Light at premiums of $1.50 to $2 a barrel to ICE Brent. The cargos are expected to be delivered this month.