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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