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Basra light crude rises more than a dollar a barrel above its official selling price
April 17 2018 10:51 p
April 17 2018 10:51 p
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[rtl][rtl]Kirkuk oil[/rtl]
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(Reuters) - Basra's light crude for May 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.
The sources told Reuters that JXT Nippon of Japan Refining and Indian Oil Corporation bought the shipments at a premium of about $ 1.10 a barrel above the official selling price.
Instant bonuses rose from previous levels between 40 and 50 cents after Iraqi oil marketing company Somo announced May allocations.
Some Asian refiners prefer Basrah Light and one source said Somo may have cut provisions for some buyers in May.
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Baghdad Post
[rtl](Reuters) - Basra's light crude for May 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.
The sources told Reuters that JXT Nippon of Japan Refining and Indian Oil Corporation bought the shipments at a premium of about $ 1.10 a barrel above the official selling price.
Instant bonuses rose from previous levels between 40 and 50 cents after Iraqi oil marketing company Somo announced May allocations.
Some Asian refiners prefer Basrah Light and one source said Somo may have cut provisions for some buyers in May.
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