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  • SAUDI ARABIA BREAKING NEWS

Saudi Arabia Lowes Arab Light Oil Price To Asia, Europe In June





PARIS, France - Saudi Arabia's lowered the price of its Arab Light crude grade to Asia and Europe for the month of June, according to a pricing document released by oil producer Saudi Aramco on Sunday.


The price of Arab Light benchmark sold in the United States in June was unchanged from the previous month, at $5.65 per barrel above the Argus Sour Crude Index (ASCI).


Arab Light sold in June in the Far East was priced $4.40 per barrel above the average of the Oman and Dubai benchmarks, compared to a price differential of +$9.35 in May.


For buyers in northwest Europe, the Arab Light price differential versus the ICE brent was +$2.10 per barrel in June compared to +$4.40 in May, according to the document.


The world's top oil exporter had raised crude prices for all regions in May, with those to Asia hitting all - time highs, as fears of disruption in Russian oil and gas supplies caused jitters in international energy markets.

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