Home News Saudi Arabia lowers crude oil price in Asia and Europe for June

Saudi Arabia lowers crude oil price in Asia and Europe for June


According to the quoted source, the price of Arab Light benchmark oil, sold in the United States in June, was unchanged from the previous month, with $ 5.65 per barrel above the Argus Sour Crude (ASCI) index.

The price of Arab Light oil sold in the Far East for June is $ 4.40 a barrel above the average for references in Oman and Dubai, compared to a price difference of +9.35 dollars in May, News.ro reports.

For buyers in Northwest Europe, the price difference for Arab Light oil compared to ICE Brent was +2.10 dollars per barrel for June, compared to $ +4.60 in May, according to the document.

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The world’s largest oil exporter raised crude oil prices for all regions in May, with Asia hitting record highs as fears of a Russian oil and gas supply disruption sparked unrest in international energy markets.

Oil prices rose more than 1% last Friday, rising for the second consecutive week by at least 4%, ignoring concerns about global economic growth as imminent EU sanctions on Russian oil increase the likelihood of a limited supply , Reuters reports.

Brent oil futures rose $ 1.43, or 1.3%, to $ 112.31 a barrel by 4:18 GMT (19:18 Romanian time), while West Texas Intermediate crude oil prices (WTI), the benchmark in the US market, rose $ 1.50, or 1.4%, to $ 109.77 per barrel.

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