Middle East Crude-Saudi raises Sept light crude prices

31 Jul, 2017

Stronger than expected prices for Saudi supplies in September may support benchmarks next month, traders said.

SAUDI OSPS: Saudi Aramco has raised the September price for its Arab Light crude oil for Asian customers by $0.20 a barrel compared with the August price, to a discount of $0.25 a barrel to the Oman/Dubai average, a source with knowledge of the matter said on Monday.

Price increases for light grades were higher than expected while Arab Medium stayed unchanged. September Arab Heavy price posted a small decline as OPEC cuts and potential sanctions by the United States on Venezuela's oil sector could tighten heavy oil supplies.

Copyright Reuters, 2017
 

 

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