Saudi Arabian Oil Co., the world’s largest crude exporter, raised its March official selling price for Arab Light blend from the Egyptian port of Sidi Kerir, according to two people with knowledge of the matter.
Saudi Aramco, as the state-run producer is known, narrowed the discount of Arab Light to 10 cents a barrel less than the Brent weighted average, or BWAVE, posted by the Intercontinental Exchange, said the people, who declined to be identified because the information is confidential. That compares with minus 75 cents for this month.
Aramco also increased the price of its Extra Light, Medium and Heavy grades to a premium of $2.30, and discounts of $2.35 and $4.95 a barrel respectively to BWAVE, they said.
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