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FX.co ★ Saudi Arabia raises crude prices in July

Saudi Arabia raises crude prices in July

Saudi Arabia raises crude prices in July

In July 2017, Saudi Arabia plans to raise prices for all types of oil supplied to Asia, the US and Northwest Europe, state oil giant Saudi Aramco said on Sunday.

Arab Heavy for Asia is expected to grow the most. Its price will jump by $0.95 a barrel, which is $1.85 lower than the average of Oman and Dubai oil grades. Arab Super Light for Asian buyers will climb by $0.6 a barrel in July.

Prices for Arab Light and Arab Medium crude supplied to the US will advance by $0.5 a barrel.

Saudi Aramco also intends to raise crude prices for buyers from Northwest Europe by $0.2-$0.7 a barrel in July.

Buyers from the Mediterranean, on the contrary, will see cuts for Arab Extra Light by $0.4 a barrel. Heavy Saudi oil supplied to the region will rise in price by $0.3 a barrel in July.

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