NO. 39


Oil Prices

Kuwait and Iran Link 3Q for Japan to Saudi Price

Prices Movements Both Kuwait and Iran have reached agreement with theirJapanese customers on forging an automatic link between their third-quartercontract price formulas and the price movements of Saudi crudes. For July, theprice formulas have been reduced by 70 cents/B for Kuwait Export and IranianHeavy and 25 cents/B for Iranian Light, following the movements of the Julyprices for Saudi Arabian Medium and...