Prices for various types of Iranian crude oil in the third month of 2025 were announced by the company’s International Affairs Bureau.
Therefore, Iran’s light crude will be available in the Northwest European and South African markets at $1.85 in March than the Ice Brent benchmark.
Meanwhile, Iran’s heavy crude prices are up $0.05 over the Icebrant benchmark, while Iran’s Forozan crude prices are offered at $0.15 over the same benchmark.
In the Mediterranean market, Iran’s light crude price rises by $1.95 over the Icebrant benchmark, while heavy and hole crude cost $0.15 each and $0.05 each over the Icebrant benchmark.
In particular, Ice Brent’s benchmark is being used this month to price Iranian crude oil in the Northwest European market. This benchmark is derived from the weighted average price of London-based ice exchange Brent crude oil on days when more than 1,000 lots (equivalent to 1 million barrels) are traded.
It is worth noting that this benchmark change has been implemented in the past due to regulatory adjustments or customer preferences and is not unprecedented.
MNA/shana.ir