Saudi Arabia’s lowered the price of its Arab Light crude grade to Asia and Europe for the month of June, according to a pricing document released by oil producer Saudi Aramco on Sunday.
The price of the Arab Light benchmark sold in the United States in June was unchanged from the previous month, at $5.65 per barrel above the Argus Sour Crude Index (ASCI).
For the latest headlines, follow our Google News channel online or via the app.
Arab Light sold in June in the Far East was priced $4.40 per barrel above the average of the Oman and Dubai benchmarks, compared to a price differential of +$9.35 in May.
For buyers in northwest Europe, the Arab Light price differential versus the ICE Brent was +$2.10 per barrel in June compared to +$4.60 in May, according to the document.
The world’s top oil exporter had raised crude prices for all regions in May, with those to Asia hitting all-time highs, as fears of disruption in Russian oil and gas supplies caused jitters in international energy markets.
Read more: Ukraine finance minister calls for total embargo on Russian oil and gas
Also Read
-
EU tweaks Russia oil sanctions plan in bid to win over reluctant states: Sources
The European Commission has proposed changes to its planned embargo on Russian oil to give Hungary, Slovakia and the Czech Republic more time to ... World News -
The longer EU pays for Russian oil, ‘the longer this war will continue’: Ukraine FM
If the European Union does not introduce an embargo on Russian oil, then Russia will continue to profit from selling oil and gas which pumps more ... Energy -
OPEC+ decides to stick to modest boost in output as Russian war roils markets
OPEC and allied oil-producing countries decided Thursday to stick to a modest increase in production, even as Europe’s proposed phaseout of Russian ... Energy -
Shell first quarter profit surges to $7.1 bn on high oil prices
British energy giant Shell on Thursday said its net profit jumped 26 percent in the first quarter as oil prices surged.Profit after tax leapt to $7.1 ... Energy -
India wants Russia to discount its oil to less than $70 a barrel
India is trying to get deeper discounts on Russian oil to compensate for the risk of dealing with the OPEC+ producer as other buyers turn away, ... World News -
Iranian oil minister meets Venezuela’s President Maduro in Caracas
Iran’s oil minister has paid an official visit to ally Venezuela to meet President Nicolas Maduro and discuss ways to “overcome” the effects of US ... World News
