Saudi Aramco raised the April official selling price for all grades of crude it sells to Asia in line with market expectations.
The company said on Friday that it had raised Arab Light Crude Selling Price The official figure for the month of April to Asia was to $4.95 a barrel, above the Oman/Dubai average, from $2.15 in March.
Saudi Arabia also set the official Arab Light crude selling price to Northwest Europe at an increase of $1.60 against the price of Brent, which represents an increase of $1.70, compared to March, and for the United States, with an increase of $3.45 over the Argos index, which represents an increase of $1 over the previous month. According to Archyde.com.
Saudi Arabia was expected to raise April prices sharply for Asia with tight global supplies due to financing and shipping problems caused by sanctions against Russia.