Press "Enter" to skip to content

Iraqi Basrah crude premium strengthens amid Venezuelan disruption

Premium for Iraqi crude continue to strengthen this month highlighting the supply tightness in medium, heavy sour crude supply seen globally since disruption of exports from Venezuela. Iraq’s SOMO was heard to have awarded up to 3 million barrels of Basrah crude loading over April in premiums ranging from 60 cents for Basrah Light and up to $1.50/b for Basrah Heavy over their respective OSPs for Asia, crude oil traders with knowledge of the tender results, said Thursday. The premiums have surpassed market expectations, especially for Basrah Heavy. Prior to the trade, S&P Global Platts on Wednesday assessed April […]

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *