asia

Iran's NIOC raises all May Asia-bound crude OSPs by 35-50 cents/b



Singapore —
State-owned National Iranian Oil Company has raised the May official selling prices for all its Asia-bound crude grades by 35-50 cents/b from April, according to a notice on the company website seen by S&P Global Platts April 14.

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NIOC raised the May Iranian Light and Forozan OSP differentials by 35 cents/b each from April to a premium of $1.60/b and 70 cents/b, respectively, to the average of Oman/Dubai assessments in May, while it increased the price of Iran Heavy by 40 cents/b to a premium of 65 cents/b.

The May OSP differential for Soroosh crude was raised by 50 cents/b from April to a discount of $2.85/b to Oman/Dubai assessments.


Grade


Basis


Mar


Apr


May


Change


Iranian Light


Oman/Dubai


0.85


1.25


1.60


0.35


Iranian Heavy


Oman/Dubai


0.05


0.25


0.65


0.40


Forozan


Oman/Dubai


0.15


0.35


0.70


0.35


Soroosh


Oman/Dubai


-3.35


-3.35


-2.85


0.50


Iran’s Med OSPs ($/b): Basis


Grade


Basis


Mar


Apr


May


Change


Iran Light


BWAVE


-1.65


-3.20


-3.55


-0.35


Iran Heavy


BWAVE


-3.20


-4.75


-4.90


-0.15


Forozan


BWAVE


-3.15


-4.65


-4.80


-0.15


Soroosh


BWAVE


-6.90


-8.80


-8.95


-0.15


Iran’s NWE OSPs ($/b): Basis


Grade


Basis


Mar


Apr


May


Change


Iran Light


BWAVE


-1.55


-3.25


-3.60


-0.35


Iran Heavy


BWAVE


-3.00


-4.70


-4.90


-0.20


Forozan


BWAVE


-2.95


-4.65


-4.85


-0.20



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