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Iran raises Nov crude prices to Asia as expected

The rise is in line with traders' expectations after Saudi Arabia increased prices of rival Arab Light and Arab Medium grades.


October 12, 2010 9:09 by

Iran has raised its official selling prices for November-loading crude to Asia, traders and a source with National Iranian Oil Co (NIOC) said on Tuesday.

The rise is in line with traders’ expectations after Saudi Arabia increased prices of rival Arab Light and Arab Medium grades.

But Iran cut the OSPs for its crude to Northwest Europe and Mediterranean for November.

The following table shows Iran’s November crude prices with October in brackets.

Prices to Northwest Europe, Sidi Kerir and the Mediterranean are differentials to the Brent crude BWAVE benchmark. Prices to South Africa are the same as those for Northwest Europe. Prices to Asia are differentials to the Oman/Dubai average. Prices for Soroush and Norouz are against the Iranian Heavy OSP.

(Reporting by Osamu Tsukimori and Judy Hua; Editing by Clarence Fernandez)


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