Indonesian crude prices fall

Thu, 02 Jul 1998 | Source: DJ

TOKYO (Dow Jones): Unofficial prices for Indonesian crude grades have fallen, putting June prices below May levels, according to industry calculations released late Tuesday.

For most grades, price declines ranged from US$0.66 to $1.19 a barrel.

Indonesia's state-owned oil company, Pertamina, has yet to approve the calculations as official Indonesian Crude Price figures. The company usually adopts the prices indicated by its own formula several weeks after the unofficial prices are calculated.

Sumatra Light Crude, or Minas, for June is set at $11.91/bbl, down $0.66 from its May ICP of $12.57/bbl. Duri drops to $10.80/bbl unofficially, down by $1.19 from $11.99/bbl in May. Widuri is at $11.27/bbl, down $0.77 from $12.04/bbl in May.

Cinta is at $11.55/bbl unofficially, down $0.72 from $12.27/bbl in May. Attaka for June is at $13.13/bbl, down $0.91, from $14.04/bbl in May.

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