Saudi Arabia hikes Arab Light crude to record premium for Asian refiners as US-Iran war continues
Saudi Arabia has sharply increased the price of its key oil grade sold to Asian buyers, reaching a record premium, as escalating tensions in the Middle East and concerns over Iran potentially restricting the Strait of Hormuz disrupt global energy markets.
The state-owned company Saudi Aramco raised the price of its flagship Arab Light crude for next month to a premium of $19.50 above regional benchmarks for Asian refiners, according to a Bloomberg-reported price list.
