Saudi Aramco Raises April Oil Prices for Asia, NW Europe
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Saudi Aramco, the world’s largest oil exporter, raised official selling prices for all crude grades for customers in Asia and Northwest Europe for April shipments and cut prices for customers in the U.S.
Saudi Arabia’s state-owned producer increased the formula prices for Arab Extra Light, Light and Medium crudes to Asia by 65 cents a barrel, a person familiar with the pricing decision said today. Arab Light to Asia will sell at the highest since July 2008 at $1.95 a barrel above the average of the Oman and Dubai grades, the two Gulf benchmarks used by traders.