Iraq raised official formula prices for crude sales to the European market as medium sour crude supplies tightened in the Mediterranean. Basrah Light firmed to a $3.35/bl discount to North Sea Dated, up by $1.50/bl, while Kirkuk gained 65c/bl to a $1.90/bl discount. Firm Urals prices in the Mediterranean and Kirkuk loading delays could bolster demand for unsold late-May cargoes.
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