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

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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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