NO. 52


Oil Prices

Iran Raises 4Q Price Formula for Iranian Crudes to Japan

Iran's NIOC and Japanese term customers have agreed on a fourth quarter pricefor Iranian Light of Oman spot plus 20 cents/B, as compared to Oman spot plus 5cents/B in the third quarter, or an increase of 15 cents/B, with Iranian Heavyat Dubai spot minus $1.15/B, as compared to Dubai spot minus $1.20/B in thethird quarter, or an increase of 5 cents/B.

While these price formulas are applicable for...