LONDON (Reuters) - Iran raised its January official selling price (OSPs) to Northwest Europe and the Mediterranean moderately while hiking the price to Asia to record highs on Monday, as the EU works on a potential embargo on Iranian crude.

National Iranian Oil Company (NIOC) raised the January OSP for Iranian Light to NWE by 75 cents to BWAVE benchmark minus 80 cents per barrel and increased the price to the Mediterranean 65 cents to the benchmark minus $2.00 a barrel.

The January price for Iranian Light to Asia was up by $1.65 to the average of Oman Dubai crude plus $4.36 a barrel.

 

"What I think they are trying to show with the OSPs is that they can sell whatever they want to Asia regardless of what Europe decides," a trader said.

On Sunday, Iranian Oil Minister Rostam Qasemi said the European Union "definitely" will not impose sanctions on OPEC member Iran's oil exports because such a measure would harm the global crude market.