Iraq's State Oil Marketing Organization has cut the April official selling prices of its Basra Light crude destined for Europe by $2.2 a barrel and for Asia by $0.90 a barrel, and increased prices for customers in the U.S., a SOMO official told Dow Jones Newswires.
SOMO also cut prices of its Kirkuk crude for April exports to Europe and the U.S., the official said.
Basra Light crude for delivery to Europe in April was set at dated Brent minus $6.25 a barrel, a cut of $2.2 a barrel from minus $4.05 a barrel in March, the official said. April Kirkuk crude for Europe was set at dated Brent minus $4.70 a barrel, a cut of $1.45 from minus $3.25 a barrel in March.
The April Basra Light crude OSP for Asian customers was set at Oman/Dubai minus $2.40 a barrel, down $0.90 a barrel from minus $1.50 a barrel in March.
Basra Light crude April OSP for delivery to the U.S. was set at second-month West Texas Intermediate minus $7.05 a barrel, up $0.60 a barrel from minus $7.65 a barrel in March. The March Kirkuk crude for the U.S. was set at first line WTI minus $5.65 a barrel, down $1.05 a barrel from minus $4.60 in March.