NO. 51


Oil Prices

Syria Announces 4Q Price Formula for Light Crude

As predicted by MEES earlier this month (MEES, 10 September), the 4Q priceformula for Syrian Light crude (37 API) has been linked to both Brent and Essider crudes. The formula sets the price of Syrian Light at Essider plus 5cents/B with a floor of Dated Brent minus 35 cents/B. However, if the price ofEssider crude rises above that of Dated Brent, the buyers will be allowed a5-cent/B discount and will...