Iraq Slashes Oil Prices for Buyers Willing to Transit Hormuz
Bloomberg.com • • world
Key Points:
- Iraq is providing substantial discounts of up to $33.40 per barrel on its Basrah Medium crude oil for shipments loaded in May.
- These discounts are aimed at term buyers to encourage purchases despite regional tensions.
- Tankers must navigate the Strait of Hormuz to collect the oil, a route currently experiencing increased hostilities.
- The pricing details were disclosed in a notice from Iraq's state oil marketer SOMO dated May 3.
