Media: Saudi Aramco raised oil prices for the US and lowered for Europe

MOSCOW, 6 Oct — PRIME. Saudi Aramco, the oil and gas state company of Saudi Arabia, raised November selling prices for oil for the United States, kept it for Asia, and reduced it for Europe, Bloomberg reports.

“Prices for all grades for the northwestern part of Europe and the Mediterranean region have been lowered. Prices for all grades for the US have been increased by 20 cents,” the agency writes.

Prices for all Aramco crudes for northwestern Europe and the Mediterranean have been lowered: Extra Light and Light prices have been reduced by $1.8, Medium and Heavy by $1.5. Thus, Arab Light for delivery in November is sold for these regions at a premium of $0.9 to ICE Brent.

And for the United States, prices for all brands were increased by $0.2, the agency reports. Accordingly, November’s Arab Light is being sold to US buyers for a $6.35 premium over ASCI.

The price of key Arab Light for November delivery for Asia remained unchanged, with a premium of $5.85 per barrel against the regional brand Oman/Dubai, although a price increase of $0.4 was expected, the agency writes.

Saudi Aramco is the national oil and gas company of Saudi Arabia, founded in 1933. The company is represented in the three main global energy markets of Asia, Europe and North America. The staff exceeds 70 thousand people.