The Iraqi State Oil Marketing Organization (SOMO) set the official selling price for Basra Medium crude oil shipped to North and South America in December at a premium of $2.1 per barrel to the average price of the U.S. Gulf Coast Sour Crude Index (ASCI), and set the official selling price for Basra Medium crude oil shipped to Europe in December at a discount of $9.85 per barrel to the spot Brent crude price.