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Basrah Light Sell May Load at Standard Cost in Asia
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BAGHDAD (Reuters) - Iraq's Basra Light crude oil is sold at a record high of more than a dollar a barrel above its official selling price thanks to strong demand in Asia, trade sources said on Tuesday.
Japan's JCT Refinery and the Indian Oil Corporation bought the shipments at a premium of about $ 1.10 a barrel above the official selling price, they said.
Instant bonuses jumped from previous levels between 40 and 50 cents after Iraqi oil marketing company Sumo announced May allocations.
Some Asian refiners prefer Basrah Light and one source said Somo may have cut provisions for some buyers in May.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
BAGHDAD (Reuters) - Iraq's Basra Light crude oil is sold at a record high of more than a dollar a barrel above its official selling price thanks to strong demand in Asia, trade sources said on Tuesday.
Japan's JCT Refinery and the Indian Oil Corporation bought the shipments at a premium of about $ 1.10 a barrel above the official selling price, they said.
Instant bonuses jumped from previous levels between 40 and 50 cents after Iraqi oil marketing company Sumo announced May allocations.
Some Asian refiners prefer Basrah Light and one source said Somo may have cut provisions for some buyers in May.
[You must be registered and logged in to see this link.]
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