Iran Cuts July Light Crude Price to Asia; Raises Other Grades
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National Iranian Oil Co. cut the cost for July shipments of its Iranian Light crude to refiners in Asia and increased prices for its other grades to the region, according to a company official.
The state-run producer lowered the price formula for Iranian Light crude by 72 cents, to $1.71 a barrel more than the regional benchmark, said the official, who asked not to be identified since Iran doesn’t publish its price list.