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Iraq ups crude prices for US, Asia in November
The November price for Basra light crude for Asian buyers was set at a discount of $1.05.
October 11, 2010 1:22 by Reuters
Iraq has raised the official selling price of Basra light crude to U.S. buyers for November by 5 cents to $1.10 below the Argus (ASCI) benchmark, the head of State Oil Marketing Organisation (SOMO) said on Monday.
The November price for Kirkuk crude for U.S. refiners is at a premium of 40 cents over the ASCI benchmark compared to a premium of 35 cents the previous month, SOMO chief Falah al-Amri said.
The November price for Basra light crude for Asian buyers was set at a discount of $1.05 to the average of Oman/Dubai quotes.
The November price of Basra crude for European buyers was set at a discount of $2.30 to the North Sea spot benchmark BFOE versus $1.45 below the benchmark in October.