Saudi Arabia Raises March Crude Prices to Asia
February 06 2023 - 7:57AM
Dow Jones News
By Will Horner
Saudi Arabia modestly raised prices for the benchmark crude
variety it sells to buyers in Asia and the U.S. while adding more
significantly to prices for European consumers.
Saudi Arabian Oil Co.--commonly known as Saudi Aramco--added
$0.20 a barrel to March sales of the benchmark Arab Light crude
sold to Asian buyers. The change means sales will carry a
$2-a-barrel premium over the average of the Oman and Dubai
benchmarks.
Aramco also raised prices of its Arab Light crude for customers
in Northern and Southern Europe by $2 a barrel. The changes mean
buyers in both Northern and Southern Europe will pay a $0.50 a
barrel premium over the Brent crude benchmark.
For U.S. buyers, prices were raised by $0.30 a barrel, meaning
sales to the U.S. will carry a $6.65 a barrel over the ASCI
benchmark.
Write to Will Horner at william.horner@wsj.com
(END) Dow Jones Newswires
February 06, 2023 08:42 ET (13:42 GMT)
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