Iran made a statement when the country issued official selling prices for June contracts of heavy crude oil sold to Asia. The most recent pricing information unveiled by Iran is the largest discount to Saudi and Iraqi oil since 2007. The Iranian announcement was just a few days after Saudi Arabia announced a price increase for their June contracts to Asia. The discount marks the third time in five months that Iran has changed pricing methodology. Tehran typically adjusts its crude price formulas to Asia at the beginning of each quarter followin...


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