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Saudi Aramco To Raise Prices For All Oil Brands For Asia In August

Saudi Aramco To Raise Prices For All Oil Brands For Asia In August

Saudi Aramco, a state-owned company, announced that it would raise prices for all oil grades for buyers from Asia in August.

The Arab Light grade will rise in price by $1 per barrel and will cost $ 1.2 large baskets of oil from Oman and Dubai.

Other varieties for Asian buyers will also rise in price by $1. The Arab Super Light variety will cost $2.65 per barrel more than a basket of oil from Oman and Dubai, Arab Extra Light - $1.2, Arab Medium - also $1.2, and Arab Heavy - $0.9.

For American clients, the increase in prices for Saudi oil will be $0.2-$0.4 per barrel, according to Bloomberg. As a result, "light" oil for the US will be sold at a premium of $1.65 to the MSCI index.