Commodities
Aramco Boosts Asian Crude Prices to Two-Month High
Saudi Aramco has increased its official selling price for Arab Light crude oil sold to Asia, marking a two-month high. The new price is set at Platts Dubai/DME Oman +$2 per barrel, up from +$1.80 in August.
The increase may seem modest compared to expectations, but it's attributed to weaker refining margins in Asia and ongoing negotiations for annual term supplies.
Aramco's pricing decisions take into account customer recommendations and changes in the oil's value over the past month, considering yields and product prices.