Saudi Arabia raises February oil prices to US, cuts Europe

Saudi Arabia, the world's top oil exporter, raised the February official selling price of its oil to US customers compared with January but cut the price to Europe, state oil firm Saudi Aramco said in a statement.
For shipments to Asian buyers, Aramco cut prices for light crude but raised prices for heavier oil.
The kingdom raised the price of Arab Light crude to refiners in the United States by $2.70 a barrel to a discount of $4.15 to WTI. It cut the price to buyers of Arab Light in the Mediterranean by 65 cents, and to buyers in Asia by 20 cents.
The following table details Saudi crude prices in dollars per barrel for February and January.
SAUDI TERM CRUDE SUPPLIES TO THE UNITED STATES ARE PRICED AS A DIFFERENTIAL TO US CRUDE BENCHMARK WEST TEXAS INTERMEDIATE:

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                     Feb       Jan    Change

Arab Extra Light    -1.10    -3.90     +2.80

Arab Light          -4.15    -6.85     +2.70

Arab Medium         -7.45    -10.05    +2.60

Arab Heavy    -     10.75    -13.25    +2.50

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Prices at Ras Tanura for Saudi oil destined for north-west Europe are set against the ICE Brent crude weighted average (BWAVE):

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                       Feb    Jan    Change

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Arab Extra Light    +1.20    +1.55    -0.35

Arab Light          -3.15    -2.90    -0.25

Arab Medium         -5.70    -5.65    -0.05

Arab Heavy          -7.90    -7.85    -0.05

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Prices at Ras Tanura for Saudi oil destined for the Mediterranean are set against the ICE Brent crude weighted average (BWAVE):

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                       Feb    Jan    Change

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Arab Extra Light    +1.65    +2.35    -0.70

Arab Light          -2.55    -1.90    -0.65

Arab Medium         -5.00    -4.50    -0.50

Arab Heavy          -7.55    -6.95    -0.60

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Saudi term crude supplies to Asia are priced as a differential to the Oman/Dubai average:

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                       Feb    Jan    Change

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Arab Super Light    +6.05    +7.05    -1.00

Arab Extra Light    +4.95    +5.35    -0.40

Arab Light          +1.55    +1.75    -0.20

Arab Medium         -1.75    -1.85    +0.10

Arab Heavy          -4.80    -5.10    +0.30

                                   -Reuters

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