ReportedShipping, energy & marketsSaudi Arabia
Saudi Aramco cuts November Arab Light price for Asia to a six-year low
- Mountain Time
- Local time
- 11:00 AM in Riyadh
- Where
- Saudi Arabia
Saudi Aramco set its November Arab Light official selling price for Asian buyers at a $5-per-barrel discount to the Dubai/Oman benchmark, a $3 cut and the lowest level since June 2020. It raised November prices for European buyers while leaving U.S. prices unchanged.
Why it matters
The regional price split changes the economics for Asian and European refiners as Hormuz freight costs reshape the delivered cost of Saudi crude.
Source
- OilPrice.comoilprice.comPublished
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