Thursday, 6 August 2009 at 09:12
Top oil exporter Saudi Arabia raised the official selling price for its crude to U.S. refiners while cutting most prices to Asia and Europe, state oil firm Saudi Aramco said in a statement on Wednesday.
The kingdom raised the price of its main export grade Arab Light to U.S. customers by $2.60 a barrel to WTI minus $1.10.
It cut the Arab Light price for customers in the Far East by $1.75 to the Oman/Dubai average minus 25 cents a barrel.
It also cut other grades to Asia, as expected by traders there, amid poor refinery margins and competitive prices for crude from Gulf Arab neighbour the United Arab Emirates.
Your comments