Saudi Sets Six-Year-Low Arab Light Discount In Asia Arabian Post
Arabian Post Staff -Dubai
Saudi Aramco has cut the November official selling price of its flagship Arab Light crude for Asian customers by $3 a barrel, setting it at a $5 discount to the average of Oman and Dubai benchmarks, the widest discount since June 2020.The unexpectedly deep reduction comes as Brent crude remains above $100 a barrel amid persistent Middle East security risks, while recovering regional exports and planned emergency stock releases are adding pressure on physical crude pricing.
Aramco also reduced the November prices of Arab Medium and Arab Heavy for Asia by $5 a barrel. The cuts contrasted sharply with market expectations that Saudi prices would rise after gains in Middle East benchmark crudes.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment