Asian crude prices rise

Asian crude prices rise

TOKYO (Dow Jones): The average pricing standard of the Tokyo Commodity Exchange Asian Petroleum Index, or Tapix, rose Thursday by 32 cents a barrel from Wednesday's level to US$23.91 per barrel, according to Tocom, Japan's largest commodity futures exchange.

Tapix Light & Sweet was at $24.90 per barrel Thursday, up 56 cents from Wednesday, while Light & Sour was $23.27 per barrel up 11 cents.

Heavy & Sweet for Thursday was $24.47 per barrel, up 52 cents, and Heavy & Sour was $22.84 per barrel up 7 cents from Wednesday.

Tapix is publicized as five dollar-denominated pricing standards defined by sulfur content and API gravity, comprising Average (API 35 and 1 percent sulfur), Light & Sweet (API 40 and 0.1 percent sulfur), Light & Sour (API 40 and 2 percent sulfur), Heavy & Sweet (API 30 and 0.1 percent sulfur) and Heavy & Sour (API 30 and 2 percent sulfur).