Page 19 - Basrah Medium News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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Three of OPEC’s biggest oil producers raised monthly pricing for shipments to Asia, their largest regional buyer, after markets tightened on Saudi Arabia’s plan to slash output.

The second-largest OPEC member, Iraq increased Basrah Light crude to buyers in Asia by 70 cents a barrel, to a $1.10 premium over the regional benchmark, according to a price list from the state oil marketer.

Asia crude – Key market indicators this week The crude oil market in Asia started the week of Dec. 21 lower as crude futures fell after closing at nine-month highs Dec. 18 due to the emergence of a highly infectious strain of coronavirus in the UK, which led to fears that tougher lockdown restrictions will be placed to curb its spread. The ICE Brent February crude contract fell $1.70/b (3.25%) from the Dec. 18 settle to $50.26/b at 11:35 am Singapore time (0335 GMT) on Dec. 21. MIDDLE EAST CRUDE ** Spot differentials for February-loading Middle East crude may ease further during the week st...

Asia crude – Key market indicators this week The crude oil market in Asia started the week of Dec. 14 lower, as negotiations over a US stimulus package remained stalled, while the prospect of more Iranian oil amid near-term uptick in COVID-19 cases, offset the optimism brought by the granting of an emergency authorization by the US Food and Drug Administration for the Pfizer-BioNTech COVID-19 vaccine. February ICE Brent crude futures was pegged at $50.10/b at 0300 GMT Dec. 14, down 39 cents/b from the Asian close on Dec. 11. MIDDLE EAST CRUDE **Trade for February-loading barrels is expected...