Vol. XL

No. 2

13-January-1997

IRAN

Iranian Crudes Hold Steady As Russian Urals BearsIraqi Price Brunt

While the dust has yet to settle, it seems thatthe adverse impact from the resumption in Iraqi crude exports has so far been confined tothe Mediterranean short-haul spot market, with the brunt of the fallout impacting uponRussia's Urals grade. The bulk of Iraq's crude exports have been directed to the Turkishport of Ceyhan, and the steady stream of material has tended to collide head-on with...