Mixed news out of Saudi Arabia, info comes via Bloomberg citing a pricing list they’ve seen:
- Saudi Aramco raised the official selling price of its key Arab Light crude to Asia by 90 cents, bringing it to a $2.20 per barrel premium over the regional benchmark
- vs. expected 65 cents / bbl
- cut the price of all grades to Europe and the US though
Saudi Aramco is the state owned oil producer.
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The oil price jumped last week in response to a ratcheting higher of conflict in the Middle East.
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This article was written by Eamonn Sheridan at www.forexlive.com.