Iraq has raised the official selling prices of its Basra Light crude to customers in the U.S. and Asia and cut the prices for buyers in Europe, the State Oil Marketing Organization, or SOMO, said Thursday.
Iraq
has raised the official
selling prices of its Basra Light crude to customers in the
U.S.
and
Asia
and cut the prices for
buyers in
Europe
, the State Oil Marketing Organization, or SOMO, said Thursday.
The price of Basra Light for delivery to
U.S.
buyers in November was
raised $0.50 a barrel to $1.15 a barrel below the Argus Sour Crude Index, or
ASCI. It was $1.65 a barrel below ASCI in October, SOMO said in a statement
obtained by Dow Jones Newswires.
Basra Light crude's November delivery price to customers in
Europe
was cut by $0.45 a
barrel to $4.25 a barrel below dated Brent. In October it was $3.80 a barrel
below dated Brent, it said.
The November price of Basra Light to buyers in
Asia
was raised by $0.10 a
barrel to $0.90 a barrel above the average
Oman
and
Dubai
quotes. It was $0.80 a
barrel above Oman/Dubai quotes in the previous month, it added.
Iraq
has also cut its
official selling prices of its
Kirkuk
crude destined to the
U.S.
and
Europe
.
Kirkuk
crude destined for the
U.S.
market in November was
cut by $0.20 a barrel to $1.20 a barrel above ASCI compared with $1.140 a
barrel above ASCI the previous month.
For European customers, the November price of
Kirkuk
crude was cut by $0.35
a barrel to $2.65 a barrel below dated Brent. In October it was $2.30 a barrel
below dated Brent, SOMO said.
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