Saudi Arabia raises Sept. Arab Light crude prices
LONDON: Saudi Arabia has raised the price of its Arab Light crude in September to customers in Europe, Asia and the US, Saudi Aramco said.
The price of Arab Light to Asia, the biggest buyer of Saudi crude, was raised by $1.00 to the Oman/Dubai average plus $2.90 a barrel, Aramco said.
The tables below show the full FOB prices for September in US dollars.
Saudi term crude supplies to the US are priced as a differential to the Argus Sour Crude Index (ASCI).
Brent crude oil pared early losses to trade back toward $109 a barrel as selling pressure eased after a report showed strong growth in the US economys service sector.
Brent and US crude each lost more than $1 earlier in the session on news of rebounding production in Libya.
By 1:14 p.m. 1714 GMT, Brent was down 15 cents per barrel to $108.80 after earlier dropping as much as $1.40 to $107.55.
US crude oil futures lost 11 cents to $106.83, after earlier falling to $105.70.
Prices remained under pressure, however, from news of increased supply from the Libya and the North Sea.
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Saudi Arabia raises Sept. Arab Light crude prices | Arab News