For Asian clients, Iran’s light crude will be priced at $1.80 above the Oman/Dubai benchmark, a slight increase from the previous month. In Northwest Europe and South Africa, Iran’s light crude will trade at 40 cents above the North Sea Brent benchmark. Meanwhile, Iran’s heavy crude and Forozan blend will be priced at $1.40 and $1.30 below Brent, respectively.

A similar pricing structure applies in the Mediterranean market, where Iran’s heavy crude and Forozan blend will sell at $1.95 and $1.80 below Brent. However, Iran’s light crude in this region will trade at a 15-cent premium to Brent.

In Asia, where the benchmark is based on the Oman/Dubai average, Iran’s light crude will sell at $1.80 above the benchmark, while Forozan blend will trade at a 10-cent premium. Heavy crude, however, will be priced 15 cents below the benchmark.

The NIOC releases monthly crude pricing through its international affairs department.