Saudi Arabia, the world's top oil exporter, raised nearly all August official selling prices for its crude oil to customers across the globe, industry sources said on Wednesday.
The kingdom raised most prices to Europe by between 10 and 30 cents a barrel, with Arab Light at Sidi Kerir up 20 cents to a $5.40 discount to the IPE Brent crude weighted average (BWAVE). Arab Heavy at Ras Tanura was the only grade lowered, down 20 cents at BWAVE minus $12.05. Arab Light prices to the United States rose 35 cents to a $6 discount to US crude benchmark WTI, while Extra Light was increased by 65 cents to minus $2.05.
Asian customers saw Arab Light prices rise 15 cents to a premium of 35 cents to the Oman/Dubai average. Extra light prices to Asia rose by 45 cents, while prices for Arab Medium and Arab Heavy were unchanged.