Saudi Aramco announced setting the official selling price for Arab Light Crude for Asia for June at $4.40 a barrel, above the Oman/Dubai average.
Aramco also set the official selling price for Arab Light crude for Northwest Europe for June at $2.10 a barrel, above the price of Brent on the Intercontinental Exchange.
She pointed out that OFFICIAL SALE PRICE Arab Light crude for America for June is at $5.65 a barrel, above the Ascii index, according to Archyde.com.
Oil prices rose about 1.5% in Friday’s session, to record at the settlement the second weekly increase in a row, as the imminent European Union sanctions on Russian oil raised the prospects of tight supplies and made traders ignore concerns about global economic growth.
Brent crude futures rose $1.49, or 1.3 percent, to settle at $112.39 a barrel, while US West Texas Intermediate crude jumped $1.51, or 1.4 percent, to $109.77 a barrel.