Saudi Aramco Cuts Asia Oil Price as Hormuz Talks Progress

Saudi Aramco cut its main crude oil price for Asia by 50 cents a barrel to $2.00 (RM8.18) less than the regional benchmark, according to a recent price list from the company.

The move comes as talks to ease shipping through the vital Strait of Hormuz chokepoint appear to advance, even as threats to Red Sea transits persist.

Aramco's decision was unexpected, as traders in a Bloomberg survey had predicted the Saudi producer would leave its flagship price level unchanged.