According to the NIOC’s International Affairs Department, in Northwest Europe and South Africa, Iran’s light crude will see a slight increase from the previous month and will be priced at $1.85 above the ICE Bwave benchmark, which is based on the weighted average price of Brent crude on trading days with volumes exceeding one million barrels.
Iran’s heavy crude and Forouzan crude in these markets will be priced at $0.05 and $0.15 higher than the ICE Bwave marker, respectively.
In the Mediterranean market, Iran’s heavy and Forouzan crude will be priced at $0.15 and $0.05 below the ICE Bwave benchmark, respectively. However, Iran’s light crude in this market will be priced at $1.95 above the weighted average price of Brent crude.
For non-Asian markets, the NIOC continues to use the ICE Bwave marker.
Early last month, Oil Minister Mohsen Paknejad said Iran’s oil exports broke a 10-year record in the calendar month to January 19 despite the illegal US sanctions.
IRNA