Iraq has cut the July official selling price for Basrah medium crude oil to Asia to plus $0.30 a barrel against the average of Oman/Dubai quotes from the June OSP of plus $4.30 a barrel, state-owned Iraqi oil marketer SOMO said on Wednesday.

Basrah Heavy to Asia in the same month was priced at minus $1.80 a barrel to Oman/Dubai quotes, from plus $2.20 a barrel set for June.

Type of Crude Oil

North and South America Market ($/bbl)

European Market ($/bbl)

Far East Market ($/bbl)

Basrah Medium

ASCI +9.10

Brent (dated)-1.85

Average (Oman & Dubai)+0.30

Basrah Heavy

ASCI +5.40

Brent (dated) -4.40

Average (Oman & Dubai)-1.80

Kirkuk

ASCI +10.75

Brent (dated) -0.05

 

(Reporting by Ashitha Shivaprasad in Bengaluru)