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By John Lee.

Iraq has reportedly surprised traders in Asia with a sharp increase in the price of its new Basrah Heavy crude grade.

Despite the grade selling at a sharp discount in the spot market last month, the State Oil Marketing Organization (SOMO) raised the Official Selling Price (OSP) for Basrah Heavy by 85 cents per barrel to a discount of $5.65/barrel relative to Platts average Oman/Dubai assessments for cargoes loading in July and heading to Asia.

Saudi Arabia has also raised the OSP for its Arab Heavy crude, and according to one trader "unfortunately SOMO follows Saudi closely."

India is an important buyer of the new grade.

(Source: Platts)

(Oil price image via Shutterstock)

U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported.

Officials reported details of the latest strikes, which took place between 8 a.m. Wednesday and 8 a.m. Thursday, local time, noting that assessments of results are based on initial reports.

Airstrikes in Syria

Attack, bomber and fighter aircraft conducted 16 airstrikes in Syria:

• Near Hasakah, an airstrike struck an ISIL tactical unit, destroying an ISIL fighting position and an ISIL heavy machine gun.
• Near Raqqah, seven airstrikes struck six ISIL tactical units, destroying seven ISIL improvised rocket-assisted munitions, two ISIL fighting positions, two ISIL resupply points, two ISIL vehicle bombs, an ISIL vehicle and an ISIL vehicle bomb warehouse.
• Near Dayr Az Zawr, four airstrikes struck four ISIL crude oil collection points.
• Near Kobani, four airstrikes struck three ISIL tactical units, destroying four ISIL fighting positions, two ISIL vehicles, an ISIL building and an ISIL mortar firing position.

Airstrikes in Iraq

Attack, bomber, fighter and remotely piloted aircraft conducted 13 airstrikes in Iraq, approved by the Iraqi Ministry of Defense:

• Near Al Qaim, one airstrike destroyed an ISIL excavator.
• Near Beiji, four airstrikes struck four ISIL tactical units, destroying three ISIL vehicles and three ISIL structures.
• Near Haditha, an airstrike destroyed an ISIL vehicle.
• Near Kirkuk, an airstrike struck an ISIL mortar firing position.
• Near Mosul, three airstrikes struck land features, denying ISIL a tactical advantage, as well as an ISIL tactical unit and an ISIL heavy machine gun, destroying an ISIL vehicle.
• Near Sinjar, an airstrike struck an ISIL large tactical unit, destroying three ISIL structures, two ISIL rocket-propelled grenades, an ISIL bunker, an ISIL heavy machine gun and an ISIL tunnel system.
• Near Tal Afar, two airstrikes struck an ISIL tactical unit and two ISIL mortar firing positions, destroying an ISIL building and an ISIL heavy machine gun.

Part of Operation Inherent Resolve

The strikes were conducted as part of Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, the region, and the wider international community.

The destruction of ISIL targets in Syria and Iraq further limits the terrorist group's ability to project terror and conduct operations, officials said.

Coalition nations conducting airstrikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom.

Coalition nations conducting airstrikes in Syria include the United States, Bahrain, Canada, Jordan, Saudi Arabia and the United Arab Emirates.

(Source: US Dept of Defense)

U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported.

Officials reported details of the latest strikes, which took place between 8 a.m. Tuesday and 8 a.m. Wednesday, local time, noting that assessments of results are based on initial reports.

Airstrikes in Syria

Bomber and fighter aircraft conducted five airstrikes in Syria:

• Near Hasakah, one airstrike struck an ISIL staging area.
• Near Raqqah, three airstrikes struck two ISIL tactical units, destroying three ISIL fighting positions and an ISIL armored vehicle.
• Near Dayr Az Zawr, one airstrike struck an ISIL crude oil collection point.

Airstrikes in Iraq

Attack, fighter and remotely piloted aircraft conducted 16 airstrikes in Iraq, approved by the Iraqi Ministry of Defense:

• Near Baghdadi, one airstrike struck an ISIL resupply vehicle.
• Near Beiji, five airstrikes struck four ISIL tactical units, destroying three ISIL vehicles, an ISIL building and an ISIL vehicle-borne improvised explosive device.
• Near Kirkuk, one airstrike struck an ISIL tactical unit, destroying an ISIL building.
• Near Makhmur, two airstrikes struck an ISIL tactical unit and an ISIL mortar system, destroying an ISIL building and an ISIL heavy machine gun.
• Near Mosul, two airstrikes struck an ISIL tactical unit and an ISIL mortar system, destroying an ISIL building, an ISIL fighting position and an ISIL heavy machine gun.
• Near Sinjar, one airstrike truck an ISIL large tactical unit, an ISIL mortar firing position and an ISIL building, destroying five ISIL buildings, an ISIL vehicle-borne improvised explosive device, an ISIL heavy machine gun and an ISIL rocket propelled grenade cache.
• Near Tal Afar, four airstrikes struck two ISIL tactical units, two ISIL mortar systems, an ISIL heavy machine gun and an ISIL rocket firing position, destroying three ISIL buildings, an ISIL rocket and an ISIL tunnel system.

Part of Operation Inherent Resolve

The strikes were conducted as part of Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, the region, and the wider international community.

The destruction of ISIL targets in Syria and Iraq further limits the terrorist group's ability to project terror and conduct operations, officials said.

Coalition nations conducting airstrikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom.

Coalition nations conducting airstrikes in Syria include the United States, Bahrain, Canada, Jordan, Saudi Arabia and the United Arab Emirates.

(Source: US Dept of Defense)

U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported.

Officials reported details of the latest strikes, which took place between 8 a.m. Monday and 8 a.m. Tuesday, local time, noting that assessments of results are based on initial reports.

Airstrikes in Syria

Bomber and fighter aircraft conducted nine airstrikes in Syria:

• Near Raqqah, three airstrikes struck three ISIL tactical units, destroying two ISIL fighting positions.
• Near Kobani, six airstrikes struck four ISIL tactical units, destroying three resupply boats, an ISIL excavator, an ISIL fighting position and an ISIL vehicle.

Airstrikes in Iraq

Attack and fighter aircraft conducted 14 airstrikes in Iraq, approved by the Iraqi Ministry of Defense:

• Near Beiji, three airstrikes struck two ISIL tactical units, destroying four ISIL structures.
• Near Kirkuk, one airstrike struck two ISIL heavy machine guns.
• Near Makhmur, two airstrikes struck an ISIL tactical unit and an ISIL mortar firing position, destroying an ISIL vehicle.
• Near Mosul, four airstrikes struck two ISIL tactical units and an ISIL mortar firing position, destroying two ISIL buildings, two ISIL fighting positions, an ISIL heavy machine gun and an ISIL mortar system.
• Near Tal Afar, four airstrikes struck three ISIL tactical units, destroying five ISIL buildings, an ISIL fighting position, an ISIL heavy machine gun, an ISIL rocket system and an ISIL rocket-propelled grenade.

Part of Operation Inherent Resolve

The strikes were conducted as part of Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, the region and the wider international community.

The destruction of ISIL targets in Syria and Iraq further limits the terrorist group's ability to project terror and conduct operations.

Coalition nations conducting airstrikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom.

Coalition nations conducting airstrikes in Syria include the United States, Bahrain, Canada, Jordan, Saudi Arabia and the United Arab Emirates.

(Source: US Dept of Defense)

U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported.

Officials reported details of the latest strikes, which took place between 8 a.m. Sunday and 8 a.m. Monday, local time, noting that assessments of results are based on initial reports.

Airstrikes in Syria

Bomber, attack and fighter aircraft conducted seven airstrikes in Syria:

• Near Dayr Az Zawr, two airstrikes struck two ISIL crude oil collection points.
• Near Kobani, five airstrikes struck one large and two small ISIL tactical units, destroying seven ISIL fighting positions, two ISIL vehicles and an ISIL improvised explosive device facility.

Airstrikes in Iraq

Attack, bomber, fighter and remotely piloted aircraft conducted 14 airstrikes in Iraq, approved by the Iraqi Ministry of Defense:

• Near Baghdadi, two airstrikes struck two ISIL tactical units, destroying an ISIL tanker and an ISIL vehicle.
• Near Beiji, three airstrikes destroyed two ISIL staging positions and seven ISIL vehicles.
• Near Hit, one airstrike struck an ISIL tactical unit, destroying an ISIL checkpoint.
• Near Makhmur, one airstrike struck two ISIL mortar firing positions.
• Near Mosul, three airstrikes struck an ISIL tactical unit and an ISIL staging area, destroying two ISIL vehicles.
• Near Sinjar, two airstrikes struck an ISIL mortar system, destroying two ISIL buildings, an ISIL rocket-propelled grenade and an ISIL heavy machine gun.
• Near Tal Afar, two airstrikes struck an ISIL mortar firing position, destroying an ISIL tunnel entrance.

Part of Operation Inherent Resolve

The strikes were conducted as part of Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, the region, and the wider international community.

The destruction of ISIL targets in Syria and Iraq further limits the terrorist group's ability to project terror and conduct operations, officials said.

Coalition nations conducting airstrikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom.

Coalition nations conducting airstrikes in Syria include the United States, Bahrain, Canada, Jordan, Saudi Arabia and the United Arab Emirates.

(Source: US Dept of Defense)

U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant (ISIS, ISIL, IS) terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported today.

Officials reported details of the latest strikes, which took place between 8 a.m. Saturday and 8 a.m. Sunday, local time, noting that assessments of results are based on initial reports.

Airstrikes in Syria

• Near Al Hasakah, two airstrikes struck one large and one small ISIL tactical units, destroying four ISIL fighting positions and a vehicle.
• Near Aleppo, one airstrike struck an ISIL tactical unit, destroying an ISIL ant-aircraft artillery piece and an ISIL fighting positon.
• Near Ar Raqqah, three airstrikes struck three ISIL tactical units, destroying three ISIL fighting positons, an ISIL rocket system, an ISIL motorcycle and an ISIL weapon transportation vehicle.
• Near Kobani, five airstrikes struck four ISIL tactical units, destroying two ISIL vehicles and two ISIL mortar systems.

Airstrikes in Iraq

• Near Al Qaim, one airstrike struck an ISIL tactical unit, destroying an ISIL vehicle.
• Near Bayji, two airstrikes struck an ISIL tactical unit and an ISIL bridge, destroying an ISIL vehicle.
• Near Makhmur, three airstrikes struck an ISIL tactical unit, an ISIL mortar position and an ISIL rocket position, destroying three ISIL heavy machine guns and an ISIL building.
• Near Sinjar, three airstrikes struck three ISIL tactical units, destroying four ISIL buildings, an ISIL heavy machine gun and an ISIL vehicle.
• Near Tal Afar, two airstrikes struck an ISIL tactical unit and an ISIL heavy machine gun, destroying two ISIL buildings, an ISIL mortar system and an ISIL vehicle.

Airstrike assessments are based on initial reports. All aircraft returned to base safely.

Part of Operation Inherent Resolve

The strikes were conducted as part of Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, the region and the wider international community.

The destruction of ISIL targets in Syria and Iraq further limits the terrorist group's ability to project terror and conduct operations.

Coalition nations conducting airstrikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom.

Coalition conducting airstrikes in Syria include the United States, Bahrain, Canada, Jordan, Saudi Arabia and the United Arab Emirates.

(Source: US Dept of Defense)

U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported.

Officials reported details of the latest strikes, which took place between 8 a.m. Wednesday and 8 a.m. Thursday, local time, noting that assessments of results are based on initial reports.

Airstrikes in Syria

Bomber, fighter and remotely piloted aircraft conducted eight airstrikes in Syria:

• Near Hasakah, four airstrikes struck two ISIL large tactical units, destroying seven ISIL fighting positions and an ISIL vehicle.
• Near Raqqah, two airstrikes struck an ISIL tactical unit, destroying six ISIL excavators and an ISIL vehicle.
• Near Kobani, two airstrikes struck two ISIL tactical units and two ISIL mortar positions, destroying an ISIL vehicle.

Airstrikes in Iraq

Attack, fighter and remotely piloted aircraft conducted nine airstrikes in Iraq, approved by the Iraqi Ministry of Defense:

• Near Baghdadi, one airstrike struck an ISIL tactical unit, destroying an ISIL structure.
• Near Beiji, three airstrikes struck land features denying ISIL a tactical advantage, destroying an ISIL vehicle-borne improvised explosive device.
• Near Mosul, one airstrike had inconclusive results.
• Near Ramadi, one airstrike struck an ISIL tactical unit, destroying an ISIL excavator.
• Near Sinjar, two airstrikes struck an ISIL large tactical unit, destroying three ISIL heavy machine guns, three ISIL buildings and two ISIL vehicles.
• Near Tal Afar, one airstrike struck an ISIL tactical unit, destroying two ISIL heavy machine guns and two ISIL buildings.

Part of Operation Inherent Resolve

The strikes were conducted as part of Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, the region and the wider international community.

The destruction of ISIL targets in Syria and Iraq further limits the terrorist group's ability to project terror and conduct operations.

Coalition nations conducting airstrikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom.

Coalition conducting airstrikes in Syria include the United States, Bahrain, Canada, Jordan, Saudi Arabia and the United Arab Emirates.

(Source: US Dept of Defense)

U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported.

Officials reported details of the latest strikes, which took place between 8 a.m. Tuessday and 8 a.m. Wednesday, local time, noting that assessments of results are based on initial reports.

Airstrikes in Syria

Attack, fighter and remotely piloted aircraft conducted four airstrikes in Syria:

• Near Hasakah, two airstrikes struck one large and one small ISIL tactical unit, destroying six ISIL fighting positions.
• Near Dayr Az Zawr, two airstrikes struck an ISIL tactical unit, destroying an ISIL armored vehicle.

Airstrikes in Iraq

Attack, bomber, fighter and remotely piloted aircraft conducted 18 airstrikes in Iraq, approved by the Iraqi Ministry of Defense:

• Near Baghdadi, one airstrike destroyed an ISIL fighting position.
• Near Huwayjah, one airstrike struck an ISIL vehicle-borne improvised explosive device facility.
• Near Rutbah, one airstrike destroyed an ISIL excavator.
• Near Beiji, three airstrikes struck land features, denying ISIL a tactical advantage and destroying three ISIL vehicles.
• Near Fallujah, one airstrike struck land features, denying ISIL a tactical advantage.
• Near Kirkuk, one airstrike struck two ISIL fighting positions.
• Near Mosul, two airstrikes struck an ISIL tactical unit and land features, denying ISIL a tactical advantage and destroying an ISIL heavy machine gun and an ISIL building.
• Near Ramadi, three airstrikes struck two ISIL tactical units, destroying five ISIL structures, two ISIL IEDs and two ISIL vehicles.
• Near Sinjar, two airstrikes struck an ISIL tactical unit and an ISIL tunnel system, destroying an ISIL heavy machine gun.
• Near Tal Afar, three airstrikes struck three ISIL tactical units and land features, denying ISIL a tactical advantage and destroying three ISIL heavy machine guns, two ISIL vehicles and an ISIL building.

The strikes were conducted as part of Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, the region and the wider international community.

The destruction of ISIL targets in Syria and Iraq further limits the terrorist group's ability to project terror and conduct operations.

Coalition nations conducting airstrikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom.

Coalition nations conducting airstrikes in Syria include the United States, Bahrain, Canada, Jordan, Saudi Arabia and the United Arab Emirates.

(Source: US Dept of Defense)

U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported.

Officials reported details of the latest strikes, which took place between 8 a.m. Monday and 8 a.m. Tuesday, local time, noting that assessments of results are based on initial reports.

Airstrikes in Syria

Bomber and fighter aircraft conducted five airstrikes in Syria:

• Near Hasakah, four airstrikes struck three large and one small ISIL tactical units, destroying two ISIL fighting positions, an ISIL command and control facility, an ISIL mortar system, an ISIL truck and an ISIL weapons cache.
• Near Kobani, an airstrike destroyed an ISIL fighting position.

Airstrikes in Iraq

Attack, fighter and bomber aircraft conducted 10 airstrikes in Iraq, approved by the Iraqi Ministry of Defense:

• Near Huwayjah, an airstrike had inconclusive results.
• Near Beiji, two airstrikes struck an ISIL tactical unit and land features denying ISIL a tactical advantage, destroying an ISIL fighting position.
• Near Fallujah, an airstrike struck land features denying ISIL a tactical advantage.
• Near Makhmur, two airstrikes struck three ISIL fighting positions.
• Near Mosul, an airstrike struck an ISIL staging area.
• Near Sinjar, two airstrikes struck two ISIL tactical units, destroying four ISIL buildings and three ISIL heavy machine guns.
• Near Tal Afar, an airstrike struck an ISIL heavy machine gun and an ISIL mortar system.

Part of Operation Inherent Resolve

The strikes were conducted as part of Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, the region, and the wider international community.

The destruction of ISIL targets in Syria and Iraq further limits the terrorist group's ability to project terror and conduct operations, officials said.

Coalition nations conducting airstrikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom. Coalition nations conducting airstrikes in Syria include the United States, Bahrain, Canada, Jordan, Saudi Arabia and the United Arab Emirates.

(Source: US Dept of Defense)

U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials have reported.

Officials reported details of the latest strikes, which took place between 8 a.m. Sunday and 8 a.m. Mondat, local time, noting that assessments of results are based on initial reports.

Airstrikes in Syria

Attack, bomber and fighter aircraft conducted 13 airstrikes in Syria:

• Near Hasakah, nine airstrikes struck eight ISIL tactical units, destroying seven ISIL fighting positions, two ISIL vehicles and an ISIL weapons cache.
• Near Raqqah, one airstrike struck an ISIL airfield.
• Near Kobani, three airstrikes struck an ISIL tactical unit, destroying 13 ISIL fighting positions.

Airstrikes in Iraq

Attack, fighter and remotely piloted aircraft conducted 10 airstrikes in Iraq, approved by the Iraqi Ministry of Defense:

• Near Beiji, two airstrikes struck an ISIL tactical unit and land features denying ISIL a tactical advantage, destroying an ISIL resupply vehicle.
• Near Fallujah, two airstrikes struck two ISIL tactical units, destroying two ISIL staging areas, an ISIL fighting position and an ISIL heavy machine gun.
• Near Mosul, two airstrikes struck an ISIL tactical unit and an ISIL vehicle-borne, improvised explosive device facility, destroying two ISIL buildings, an ISIL heavy machine gun, an ISIL mortar system and an ISIL rocket launcher.
• Near Ramadi, one airstrike destroyed an ISIL crane.
• Near Sinjar, one airstrike struck an ISIL tactical unit, destroying two ISIL buildings and an ISIL heavy machine gun.
• Near Tal Afar, two airstrikes struck an ISIL tactical unit and two ISIL mortar positions, destroying two ISIL heavy machine guns and an ISIL building.

Part of Operation Inherent Resolve

The strikes were conducted as part of Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, the region and the wider international community. The destruction of ISIL targets in Syria and Iraq further limits the terrorist group's ability to project terror and conduct operations.

Coalition nations conducting airstrikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom. Coalition nations conducting airstrikes in Syria include the United States, Bahrain, Canada, Jordan, Saudi Arabia and the United Arab Emirates.

(Source: US Defense Dept)