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Iraq Makes a Sharp Cut to U.S. Oil Price, in Contrast to Saudi

Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago.

The nation’s Basrah Light barrels will be sold at a discount of $1.15 per barrel to a regional benchmark in October for buyers in the Americas, according to a price list from Iraq’s state oil marketing company. That compares with a slight premium -- 15 cents a barrel -- against the same marker for September.