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Saudi Arabia’s Aramco Raises Oil Prices as Crude Surges

  • Aramco’s move follows Brent oil jumping above $93 a barrel
  • Prices climbing with demand strong and supply disruptions
Updated on

Saudi Arabia raised oil prices for customers in Asia, the U.S. and Europe after crude’s surge to almost $95 a barrel.

State firm Saudi Aramco increased all grades for its main market of Asia in March. The company raised its key Arab Light oil for the region by 60 cents from February to $2.80 per barrel above the benchmark it uses. That was largely in line with traders’ expectations.