NO. 37


Oil Prices

Iran Hikes Price Formula For 3Q

Iran's NIOC and its Japanese term customers have agreed upon price formulasfor the third quarter under which Iranian Heavy crude is to be raised by 12cents/B and Iranian Light lowered by 15 cents/B as compared with June levels.Responding to similar rises in Saudi Arabia, NIOC had previously increased itsJune price formulas by 40 cents/B for Iranian Heavy and 25 cents/B for IranianLight in relation to the original...