NO. 39


Oil Prices

Yemen Increases 3Q Crude Price Formula by 2 Cents/B

MEES learns that Yemen's crude oil marketing authorities have increased thethird quarter price formula for Marib Light (40.4 API) crude to Dated Brentplus 7 cents/B, compared to Dated Brent plus 5 cents/B during the secondquarter. The Yemeni prices for all destinations are FOB Ras `Isa and determinedat around five days from Bill of Lading, with payments 30 days from B/L.

Term customers for the 3Q include...