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Saudi Aramco raises June’s Arab light crude price to Asia
Saudi Aramco raised June’s official selling price for the flagship Arab light crude it sells to Asia, according to an official statement. Differentials for the flagship Arab Light grade were priced at Platts Dubai/DME Oman +$2.90 per barrel, up from +$2 a barrel in April. This was the highest OSP in five months and largely in line with expectations, based on a firmer market structure and higher spot premiums last month for tradable Middle East grades such as Oman, Al Shaheen and Upper Zakum. The higher OSPs also came after the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, ... (full story)