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Iraq`s State Oil Marketing Organization raised its official selling price differentials for its Basrah Light and Basrah Heavy crude grades loading in July and bound for Asia from the previous month. the company said in a notice Sunday.
The company raised the OSP differential for its Basrah Light bound for Asia by 40 cents b to a premium of 55 cents b to Platts Oman Dubai. The OSP differential for Basrah Heavy was raised by 70 cents b to a discount of $3.15 b to Platts Oman Dubai.
For cargoes bound for Europe. SOMO raised the July OSP differential for Basrah Light by $1.75 b from June to a discount of $3.95 b to Dated Brent. and raised the July OSP differential for Basrah Heavy by $2.15 b to a discount of $6.95 b to Dated Brent.
Europe-bound Kirkuk crude was lowered by 50 cents b to a discount of $3.90 b to Dated Brent.
For cargoes bound for the US. SOMO raised the July OSP differential for both Basrah Light and Basrah Heavy by 10 cents b. to a discount of 40 cents b and $2.90 b. respectively.
US-bound Kirkuk was raised by 25 cents b to a premium of 50 cents b.
