Monday, Dec 12, 2011
(This article was first published on Sunday.)
VIENNA (Dow Jones)--Iraq raised the official selling prices of its Basra Light and Kirkuk crudes for January to all customers, the State Oil Marketing Organization, or SOMO, said Sunday.
Basra Light crude prices for U.S. customers in January were raised by $0.10 at $1.50 a barrel below the Argus Sour Crude Index, or ASCI, from minus $1.60 in the previous month, SOMO said in an email sent to Dow Jones Newswires.
Basra Light Crude January prices for buyers in Europe were raised by $0.65 a barrel, to $2.50 a barrel below Dated Brent, from minus $3.15 a barrel in December, it said.
For buyers in Asia, SOMO raised the price for January by $1.10 a barrel to $2.90 a barrel over the Oman/Dubai, up from +$1.80 a barrel in December.
Iraq also raised Kirkuk crude January prices to customers in the U.S. to $0.15 a barrel over ASCI, from $0.10 a barrel over ASCI in December, SOMO said.
Kirkuk crude prices in January for European buyers were upgraded to $0.70 a barrel below Dated Brent, up from minus $1.35 a barrel in December, it added.
SOMO gave no details why prices were raised.
-By Hassan Hafidh, Dow Jones Newswires; +962 799 831 831; hassan.hafidh@dowjones.com
(END) Dow Jones Newswires
12-12-11 0354GMT
