Iraq raises Aug Basra Light crude OSP to Asia

Iraq has raised the August official selling price (OSP) for Basra Light crude to Asia by $0.85 to plus $2.10 a barrel against the average of Oman/Dubai quotes

  

Iraq has raised the August official selling price (OSP) for Basra Light crude to Asia by $0.85 to plus $2.10 a barrel against the average of Oman/Dubai quotes from the previous month, the State Oil Marketing Organization (SOMO) said on Tuesday.

The August Basra Light OSP to the North and South American markets was set at the Argus Sour Crude Index (ASCI) plus $0.95 a barrel, up from the previous month and the price of Kirkuk to the U.S. remained unchanged at ASCI plus $1.60 a barrel.

For Europe, the August OSP for Basra Light fell by $0.50 to dated Brent plus $1.60 a barrel and the August Kirkuk OSP fell to plus $2.15.

Reporting by Asia Energy Desk

e-mail: asia.energy@thomsonreuters.com

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