A post by @FirstSquawk on X.

Iraq set the December official selling price for Basrah Heavy crude to Asia at an $11.80 per barrel discount, according to a First Squawk post. The adjustment applies to Asia-bound cargoes for the month and reflects the discount level Iraq will offer for its heavier grade. The move matters because it sets the pricing baseline for a key Middle Eastern sour crude stream into Asia, where refiners compare Iraqi grades against competing Gulf and other regional supplies. What to watch next is how the discount compares with Iraq’s other Basrah grades and with Saudi and other Gulf producers’ December pricing, and whether the level draws stronger Asian refinery demand for the heavy grade.