Saudi Arabian Oil to Cut September Light Crude Oil Premium for Asian Customers

Bloomberg reported that Saudi Arabian Oil Co. has decided to cut the premium for September light crude oil to customers in Asia while raising it for American customers.

As quoted in the market news:

Aramco set the premium for its Light crude for September loadings for U.S. buyers at 45 cents a barrel more than the Argus Sour Crude Index, 10 cents more than the differential for August cargoes. It cut the premium for Light crude to Asia by 80 cents a barrel to $1.25 more than the average of Oman and Dubai grades, benchmarks for Persian Gulf crudes.

Click here to read the full Bloomberg report.