Indonesia Crude Price Rises 5.4% in February on Iran Tension

Indonesia’s average oil-export price rose 5.4 percent in February from a month earlier because of escalating tension over Iran’s nuclear program and rising winter demand for heating-oil in Europe.

The Indonesian Crude Price increased to $122.17 a barrel from $115.91 in January, the Directorate General of Oil and Gas at the energy ministry said in a March 2 statement on its website. Indonesia’s Minas (IOSPMINA) grade rose 5.3 percent to $124.63 a barrel in February from $118.38 in January, the ministry said in the statement.

To contact the reporter on this story: Fitri Wulandari in Jakarta at fwulandari@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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