Iraq’s SOMO raised the OSP for Basrah Medium to Asia for November to a $0.4/bbl premium to the Oman-Dubai average compared to a discount of $0.5/bbl for October according to Bloomberg.

• Iraq sets Basrah Heavy to Asia at $2.75/bbl discount for Nov. vs -$3.50 for Oct.
• The OSPs to the US were steady with Basrah Medium crude to US unchanged at -$1.10/bbl versus ASCI.
• The Basrah Medium crude OSP to Europe is up to -$4.70/bbl vs Dated Brent for November compared to -$5/bbl in October.