Iraq raised the official selling prices of its Basrah Light and Kirkuk crudes for delivery in September to Europe, the state marketing agency said.
Basrah Light was set at $2.50 a barrel less than Dated Brent, compared with a discount of $3.20 for this month, according to an e-mailed statement today. It increased the spread for Kirkuk blend by 50 cents to 65 cents a barrel less than the benchmark.
Details of Basrah and Kirkuk crude prices are as follows:
------------------------------------------------------------
Prices for Asia are expressed as a differential to the average
of Oman and Dubai grades published by Platts, a unit of McGraw-
Hill Cos.
Grade September August Change
Basrah Light -$0.05 +$0.95 -$1.00
-----------------------------------------------------------
Prices for Europe are expressed as a differential to the Dated
Brent average published by Platts.
Grade September August Change
Basrah Light -$2.50 -$3.20 +$0.70
Kirkuk -$0.65 -$1.15 +$0.50
-----------------------------------------------------------
Prices for the Americas are expressed as a differential to the
Argus Sour Crude Index published by Argus Media Ltd.
Grade September August Change
Basrah Light -$1.50 -$1.50 $0.00
Kirkuk +$0.70 +$0.60 +$0.10
------------------------------------------------------------