In Algeria, Phillips 66 has bought a cargo of Algerian crude oil for its Bayway refinery in New Jersey for the first time since 2013, sources revealed.

The vessel; Energy Century laden with about 433,000 bbls of Saharan Blend crude oil left Algerian port of Skikda on March 29 and was received in New York Harbor on Monday.

A managing principal at ESAI Energy LLC, Sarah Emerson, has said that the comeback of Algerian crude to the East Coast was anticipated given the fall of the reduction of U.S. crude once enjoyed against Brent.

The low prices in the global market has made it impossible for U.S. shale producers to rival with foreign crude, which is not expensive to ship.

This marks the comeback of Algerian crude to the East Coast one of the world's biggest energy markets since 2013 as U.S. shale revolution has made it inexpensive to buy crude locally.

In the past, Algerian crude was important on the East Coast. In 2012, approximately 40,000 bpd, were imported to the East Coast. The last time Algerian crude was imported to the East Coast was in July 2014.

According to the U.S. Energy Information Administration (EIA) this is the first purchase of Algerian crude for its Bayway refinery since December 2013 when it was shunned from the market.

Phillips 66 also get crude supplies from Gabon, Angola and Canada, Investing news reports.

Anita Fatunji