Saudi hikes October crude prices

Top oil exporter Saudi Arabia has raised October official selling prices (OSPs) for its crude for Asian buyers and its lightest grades to Europe, but mostly lowered prices to the US.

State-owned Saudi Aramco set its flagship Arab Light crude to Asian buyers at its highest premium in more than four years, with the price hike for lighter grades beating expectations and likely to support demand for rival crudes traded on the spot market.

ArabianBusiness