Commodities
Saudi Arabia Raises Oil Prices to Asia for Fourth Month in a Row
- Price of flagship Arab Light to Asia raised to 10-month high
- Aramco hikes prices for US-bound crude supply to record high
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Saudi Arabia gave customers in Asia and the US small price hikes for its crude a day after the kingdom and Russia prolonged their efforts to tighten the oil market.
State-owned Saudi Aramco raised its flagship Arab Light price to Asia in October by 10 cents to $3.60 a barrel more than the benchmark, according to a price list seen by Bloomberg. While that’s still the highest since December, the hike while lower than an expected 30-cent increase in a Bloomberg survey.