Iraq Upgrades Aug Basra Crude Oil Price To US, Europe, Asia Official

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Iraq Upgrades Aug Basra Crude Oil Price To US, Europe, Asia Official

Post by GottaDash on Fri Jul 11, 2008 7:58 am

AMMAN -(Dow Jones)- Iraq's State Oil Marketing Organization, or SOMO, raised the August official selling prices of its Basra Light crude destined to the U.S., Europe and Asia, an Iraqi oil official said Thursday.
SOMO also increased Kirkuk crude oil prices for August exports to the U.S. and Europe, the official told Dow Jones Newswires by telephone from Baghdad.
Basra Light crude for delivery to the U.S. in August was set at second-month West Texas Intermediate minus $6.50 a barrel, an increase of $1.20 a barrel from minus $7.70 a barrel in July.
The August Basra Light crude OSP for European customers was set at dated Brent minus $8.05 a barrel, an increase of $1.20 a barrel from minus $9.25 a barrel in July, the official said.
Basra Light crude for delivery to Asian customers was set at Oman/Dubai minus $2.75 a barrel, up $0.25 a barrel from minus $3.00 a barrel in July.

Full story:
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20080710%5cACQDJON200807101338DOWJONESDJONLINE000774.htm&&mypage=newsheadlines&title=Iraq%20Upgrades%20Aug%20Basra%20Crude%20Oil%20Price%20To%20US,%20Europe,%20Asia%20Official

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