Iran sets new oil prices for Asia
National Iran Oil Company changed the prices of various crude oils for Asian customers.
The company reported that Iran's official light oil price for Asian buyers was set at $1.81 above Oman/Dubai average quotes at 9:00 a.m. GMT on April 11. Earlier, the figure was $2.66.
The new price for heavy oil is set at 0.51 below Oman/Dubai average quotes, while the previous figure was 00 and Foruzan's blend oil at -0.36, while the previous figure was 1.65 above Oman/Dubai average quotes.
The oils of Soroush and Norouz are quoted as differentials to Iranian heavy oil, each one at -6.20 while the figures were -6.50 before.
|
For Asia |
February (FOB Kharg) |
March (FOB Kharg) |
Current price (FOB Kharg) |
Price index |
|
Light oil |
2.66 |
1.96 |
1.81 |
Average (Oman,Dubai) |
|
Heavy oil |
0.00 |
-0.30 |
-0.51 |
|
|
Forouzan Blend |
0.22 |
-0.08 |
-0.36 |
|
|
Soroush |
-6.50 |
-6.20 |
-6.20 |
Iran Heavy |
|
Norouz |
-6.50 |
-6.20 |
-6.20 |
The changes happened a couple of hours after Reuters quoted a trader saying that on April 11 Iran set the official selling price (OSP) of its light crude oil loading in May to Asian buyers at $2.11 a barrel above the average of Oman/Dubai quotes, up 30 cents from the month before.