Kuwait's state-owned oil firm KPC has raised the official formula price of July-loading cargoes of Kuwait Export Crude (KEC) by 10¢/bl on the month for customers in its core Asia-Pacific market, in line with price moves announced by Saudi Aramco. Aramco boosted the July formula prices of its Arab Light and Medium crude grades by 10-20¢/bl for Asia-Pacific buyers, while trimming the Arab Heavy price by 10¢/bl on the month. Similarly, Iraq's Somo increased its Basrah Light and Medium formula prices by 15-20¢/bl for July cargoes to Asia, while easing the Basrah Heavy price by 10¢/bl. For buyers in northwest Europe, KPC ... (full story)