Iraq lowers light crude price to US

Iraq lowers light crude price to US. (REUTERS)

Iraq has lowered the official selling price of Basra light crude to US buyers for May by 20 cents to $1.70 below the Argus (ASCI) benchmark, said the State Oil Marketing Organisation (Somo).

The May price for Kirkuk crude for US refiners is a premium of 20 cents over the ASCI benchmark. The May price of Basra crude for Asian buyers was set at a a discount of $1.15 to the average of Oman/Dubai quotes, compared to a discount of $1.10 in April.

The price of Basra crude for European buyers was set at $4.70 below the North Sea spot benchmark BFOE.

 

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