Tuesday, 10 May 2011 at 12:40, Reuters, Baghdad
Iraq cut the price of Basra light crude to US buyers for June by 15 cents to a discount of $2.10 per barrel below the Argus (ASCI) benchmark, but raised prices to Asia, the State Oil Marketing Organisation (Somo) said on Tuesday.
The June official selling price for Kirkuk crude for US refiners was set at a premium of 25 cents to the ASCI benchmark compared to a premium of 40 cents the previous month.
The June price for Basra light crude for Asian buyers was set at a discount of 5 cents to the average of Oman/Dubai quotes compared to a discount of 15 cents the previous month.
The June price of Basra crude for European buyers was set at a discount of $7.05 to the North Sea spot benchmark BFOE versus $6.50 below the benchmark the previous month.
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