Iran Expected to raise April Light Crude Prices

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.

(Source: Reuters)

(Picture: Bijan Zangeneh, Iranian Minister for Petroleum)

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