VOL. XLVII

No 12

22-March-2004

OIL PRICES

Crude Oil Formulas/Posted Prices ($/B)

Algeria (Dated Brent + / - Adjustment Factor; $/B)

2004

Saharan

Apr

Mar

Feb

Jan

Blend (44)

+0.48

+0.20

+0.40

+0.21

Iran (+ / - Adjustment Factor; $/B) NWE/S Africa (BWAVE)

...

2004

2004

Apr

Mar

Feb

Jan

Apr

Mar

Feb

Jan

Asia (O/D)

Iranian Light (34)

+0.70

+0.60

+0.60

+0.95

-2.85

-2.55

-2.60

-1.70

Iranian Heavy (31)

-0.55

-0.65