Saudi Aramco Cuts July Asia Arab Light Price by $6 to $9.50 Premium
Updated
Updated · Bloomberg · Jun 8
Saudi Aramco Cuts July Asia Arab Light Price by $6 to $9.50 Premium
2 articles · Updated · Bloomberg · Jun 8
Summary
$6 a barrel is how much Saudi Aramco cut July Arab Light pricing for Asian buyers, setting the official selling price at a $9.50 premium to the regional benchmark.
That reduction was deeper than expected: refiners and traders surveyed by Bloomberg had looked for a $5 cut.
The move marks a second straight monthly price cut to Asia, Saudi Arabia's biggest market.
Even after the reduction, the premium remains near the highest level seen in decades, underscoring how elevated Saudi crude pricing still is.