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Kuwait's KPC raises Asia-bound Jul crude official selling price by 45 cents/b from Jun

June 12, 2018

Kuwait Petroleum Corporation has raised the July official selling price differential for its crude oil bound for Asia, Europe and the US From the previous month, state-owned KPC said in a notice Sunday.

KPC raised the Asia-bound Kuwait Export Crude, or KEC, OSP differential for July by 45 cents/b to a discount of 10 cents/b to the average of Platts Oman and Dubai crude assessments.

This was a high not seen since July 2014, when the OSP differential was similarly at a discount of 10 cents/b to Platts Oman/Dubai.

The Northwest Europe-bound KEC OSP differential was raised by $2.10/b to a discount of $5.10/b to Dated Brent, while Mediterranean-bound KEC was raised by $1.60/b to a discount of $4.10/b to Dated Brent.

US-bound KEC and ex-ship delivered KEC to the US Gulf Coast were both raised by 15 cents/b to a discount of $1/b and a premium of 35 cents/b to ASCI for July, respectively.

The KEC OSP differential for FOB Sidi Kerir was raised by $1.70/b to a discount of $3.65/b to Dated Brent.

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