RI's March oil prices surge

RI's March oil prices surge

TOKYO (Dow Jones): Unofficial prices for Indonesian crude
grades for March have all jumped from official February levels,
according to industry calculations released late Tuesday.

Price increases ranged from US$1.42 a barrel to $1.57/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 March is unofficially set
at $12.03/barrel, up $1.47/barrel from its February ICP of
$10.56/barrel. Duri climbed to $11.12/barrel, up by $1.42/barrel
from $9.70/barrel in February. Widuri is at $11.46/barrel, up
$1.42/barrel from $10.04/barrel in February.

Cinta is at $11.66/barrel unofficially, up $1.43/barrel from
$10.23/barrel in February. Belida for March is at $12.83/barrel,
$1.57/barrel higher than $11.26/barrel in February.