The Blubber

Saudi Arabia has lowered oil prices for Europe but raised them for the US
10/6/2022

Per Business Insider:

Saudi Arabia is raising oil prices for the US market again, while lowering them for Europe and leaving them largely unchanged for Asia.

November shipments of Arab Light crude to Asia from state-run producer Saudi Aramco will remain steady at $5.85 per barrel above benchmark prices. A Bloomberg survey estimated prices in Asia, the kingdom's top market, would rise by $0.40 per barrel.

Elsewhere, Saudi Aramco hiked prices by $0.20 a barrel for all US grades, while northwest Europe and the Mediterranean saw declines. While Asian prices for the company's light oil was flat, its medium and heavy-grade crude prices ticked up in Asia by $0.25.

Last month, Saudi Aramco also lowered prices in Europe and raised them in the US.

See all oil flow: unusualwhales.com/flow

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