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Fri. Nov 22nd, 2024

Saudi Arabia has raised its main oil prices for buyers in Asia, well above expectations


Mixed news out of Saudi Arabia, info comes via Bloomberg citing a pricing list they’ve seen:

  • Saudi Aramco raised the official selling price of its key Arab Light crude to Asia by 90 cents, bringing it to a $2.20 per barrel premium over the regional benchmark
  • vs. expected 65 cents / bbl
  • cut the price of all grades to Europe and the US though

Saudi Aramco is the state owned oil producer.

—

The oil price jumped last week in response to a ratcheting higher of conflict in the Middle East.

Chart from ForexLive free charting, access it here

This article was written by Eamonn Sheridan at www.forexlive.com.



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