Saudi Arabia raises Asia oil price as volatility grips market
Saudi Arabia raised its main oil prices for buyers in Asia amid heightened volatility in the crude market as traders watch developments in the Middle East conflict.
State producer Saudi Aramco increased the official selling price of its main Arab Light crude grade by 90 cents to a premium of $2.20 a barrel against the regional benchmark for buyers in Asia, according to a price list seen by Bloomberg. The company was expected to boost the premium by 65 cents a barrel, according to a survey of traders and refiners.
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