Thursday, Sep 08, 2011
By Hassan Hafidh
Of DOW JONES NEWSWIRES
AMMAN (Dow Jones)--Iraq has raised the official selling prices of its Basra Light crude for October to the all buyers, the State Oil Marketing Organization, or SOMO, said Thursday.
For Kirkuk crude oil, Iraq has cut the price to customers in the U.S., while it has ups the price for buyers in Europe, SOMO said.
Basra Light crude for European customers in October was raised by $1.05 a barrel at $3.00 a barrel below Dated Brent, up from minus $4.05 a barrel in September.
For buyers in the U.S., SOMO raised the price for October by $0.15 a barrel at $1.70 a barrel below the Argus Sour Crude Index, or ASCI, up from minus $1.85 a barrel in September, SOMO said.
Basra Light Crude October prices for delivery to customers in Asia were raised by $1.05 a barrel at $0.005 a barrel above Oman/Dubai quotes, up from $1.00 a barrel below Oman/Dubai in the previous month.
SOMO gave no explanation why it raises its Basra crude oil to its customers.
-By Hassan Hafidh; Dow Jones Newswires; +962 799 831 831; hassan.hafidh@dowjones.com
(END) Dow Jones Newswires
08-09-11 0656GMT
