Premium for Iraqi crude continue to strengthen this month highlighting the supply tightness in medium, heavy sour crude supply seen globally since disruption of exports from Venezuela. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Iraq’s SOMO was heard to have awarded up to 3 million barrels of Basrah crude loading over April in premiums ranging from 60 cents for Basrah Light and up to $1.50/b for Basrah Heavy over their respective OSPs for Asia, crude oil traders with knowledge of the tender results, said Thursday. The premiums have surpassed market expectations, especially for Basrah Heavy. Prior to the trade, S&P Global Platts on Wednesday assessed April Basrah Light cargoes at a premium of 55 cents to the OSP and Basrah Heavy at a premium of 85 cents to the OSP. Crude oil traders in Asia emphasized the turnaround in market fundamentals, leading […]