Riyadh: Saudi Aramco, the world's largest oil exporter, has raised official selling prices (OSPs) for most crude grades to customers in Asia for June shipments and increased the formula for light blends to US customers.
Saudi Arabia's state-owned producer increased the formula price for Arab Super Light to Asia the most, raising it by $1.70 (Dh6.2) a barrel to $7.75 above the average of Oman and Dubai grades, the two Gulf benchmarks used by traders in Asia, it was said yesterday.
Aramco set the price for its Extra Light crude for US buyers at a premium of $3.45 a barrel over the Argus Sour Crude Index, 45 cents higher than May cargoes.
Arab Light to the US will sell at a premium of 45 cents a barrel over the ASCI benchmark, 25 cents more than for May.
