Saudi Aramco has increased its crude oil selling prices for November, affecting various global markets.
The world’s largest oil exporter, Saudi Aramco, has lifted the price of its crude oil for November, according to a company document released on Thursday. Aramco’s Official Selling Prices OSPs typically lead the pricing moves for the oil industry, including for oil from Iran, Kuwait, and Iraq, who let Saudi Arabia lead.
90 per barrel, with the price for Light set at $6.30 over ICE Brent. Aramco did not change its price of Super Light, Medium, and Heavy grade oil to its prized market, Asia, but raised its price for Extra Light and Light by $0.50 and $0.40, respectively. It is the fifth straight month of increases for Arab Light to Asia. Brent crude was trading down $0.44 -0.51% on Thursday morning at $85.37 per barrel, while the U.S. benchmark, WTI, was trading down $0.35 0.42% at $83.87 per barrel on the day.
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