By John Lee.
Reuters reports that Iran is expected to raise price of its flagship light crude for Asian buyers in April.
Iran is expected to price its light crude at a discount of 50 cents to the average of Oman and Dubai quotes to Asia for the month, up 30 cents from March.
This would be 25 cents a barrel above Saudi’s Arab Light — a similar grade — the highest relative price since 2011.
The April price for Iranian Heavy could be set at $2.60 a barrel below Oman/Dubai quotes, unchanged from March, the source with knowledge of the matter said.
(Picture: Bijan Zangeneh, Iranian Minister for Petroleum)