Saudi Aramco raised the official selling prices for crude to Asia, NW Europe and the Mediterranean in June, signalling expectations of strong demand this summer and amid a tightening of supplies this quarter.

  • Arab Light crude for Asia was raised for the third consecutive month by $0.9/bbl in May to $2.9/bbl above the Oman/Dubai average.
  • Refining sources from Bloomberg and Reuters had expected Saudi Aramco to raise the Arab Light OSP for June by between $0.6-$0.9/bbl.
  • The Arab Light OSP for Mediterranean customers in June was set at +2.0/bbl compared to -0.1/bbl last month.
  • Arab Light OSPs for Northwest Europe was raised to $2.1/bbl premium to ICE Brent from $0.3/bbl last month but to the US was unchanged at a $4.75/bbl premium to ASCI.

 

Source: Reuters

 

OIL: Saudi Arabia Raise OSPs to Most Regions for June

Last updated at:May-06 07:28By: David Lee

Saudi Aramco raised the official selling prices for crude to Asia, NW Europe and the Mediterranean in June, signalling expectations of strong demand this summer and amid a tightening of supplies this quarter.

  • Arab Light crude for Asia was raised for the third consecutive month by $0.9/bbl in May to $2.9/bbl above the Oman/Dubai average.
  • Refining sources from Bloomberg and Reuters had expected Saudi Aramco to raise the Arab Light OSP for June by between $0.6-$0.9/bbl.
  • The Arab Light OSP for Mediterranean customers in June was set at +2.0/bbl compared to -0.1/bbl last month.
  • Arab Light OSPs for Northwest Europe was raised to $2.1/bbl premium to ICE Brent from $0.3/bbl last month but to the US was unchanged at a $4.75/bbl premium to ASCI.

 

Source: Reuters

 

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