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Price of Iran’s heavy crude keeps rising

The rise in value of Iran’s heavy oil has demonstrated a new record high for the second consecutive week as it was traded at over $53 per barrel.

Price of Iran’s heavy crude keeps rising
(Monday, April 3, 2017) 16:21

Following the upward trend in crude oil prices in global markets, all credible indexed of Black Gold went through an upsurge in the transactions leading to February 17.

Accordingly, OPEC oil basket price rose by 30 cents to reach $53.23 per barrel while the figure for America’s sweet gas (West Texas) increased by 32 cents to $53.02 and Brent crude oil was traded at $54.62 following a five-cent increase.

Moreover, Dubai benchmark climbed by 18 cents at $54.23 a barrel, while the Omani benchmark ended the session 45 cents higher at $55.14 a barrel.

Similarly, price of each barrel of Iranian light and heavy crude oil also experienced a rise in the dealings leading to February 10, 2017. With a 46-cent uplift, light crude of Iran was sold at $51.09 in Asian and European markets.

Iranian heavy crude also increased by 29 cents in price to be traded at 53.05 cents.

Since the beginning of 2017, the average sale price per barrel for light and heavy crude oil of Iran has been 52.24 and 52.31 dollars, respectively.

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