Europe’s taste for Iraq’s Basrah Light crude heats up

摘要

London-Iraq’s Basrah Light crude has seen increased interest from European refineries as differentials for cargoes heading to the region dropped below the grade’s official selling price for July, which was set at Dated Brent minus $4.85/b. The drop was attributed to a fall in Dated Brent over the past week and limited buying demand in other regions. “Basrah is on discount right now and a lot of refineries are buying,” said one sour crude trader.