Saudi Aramco hikes its prices for all regions as Russia’s attack on Ukraine upends markets
Saudi Arabia has raised oil prices for all regions after crude surged in the wake of Russia’s invasion of Ukraine to more than $115 a barrel.
Aramco lifted other grades for Asia by as much as $2.70 a barrel. It raised all prices for US customers by $1, and those for northwest Europe by between $1.20 and $2.10. For the Mediterranean, pricing increased by as much as $2. Aramco’s decision came after Opec+, led by Saudi Arabia and Russia, on Wednesday opted to continue raising output only gradually. That was despite pressure from big importers, including the US, for the cartel’s Persian Gulf members to pump faster and help bring down global fuel prices.
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