Aramco Raises August Oil Prices to Northwest Europe
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Saudi Aramco, the world’s largest state-owned oil company, raised its August official selling prices for all crude grades to customers in Northwest Europe and increased Arab Extra Light prices to the U.S. and Asia.
The company increased the formula price of its Arab Heavy grade to Europe the most, advancing it by 95 cents a barrel to a $3.90 a barrel discount to Brent crude, a person familiar with the pricing decision said today.