Saudi Arabia increased the price of its Arab light crude for the Asian market by $0.4/barrel in May, compared to April, and lowered those for the U.S. and European markets by $0.1/barrel and $0.2 barrel respectively, according to a statement from oil producer Saudi Aramco.
It set the Arab light price for Asia at +$1.8/barrel versus Oman/Dubai average, at +$0.85 barrel versus ASCI for the U.S. and -$2.4 /barrel versus ICE Brent for Europe, the company said.
UNITED STATES (versus ASCI)
APRIL MAY CHANGE
EXTRA LIGHT +1.50+1.60+0.10
LIGHT +0.95+0.85-0.10
MEDIUM +0.25+0.85-0.10
HEAVY -0.20-0.30-0.10
Prices at Ras Tanura destined for Northwest Europe are set against ICE Brent:
NW EUROPE
EXTRA LIGHT -1.90-1.90 0.00
LIGHT -2.20-2.40-0.20
MEDIUM -2.60 – 2.60 0.00
HEAVY -3.10-3.10 0.00
Saudi term crude supplies to Asia are priced as a differential to the Oman/Dubai average:
ASIA
APRIL MAY CHANGE
SUPER LIGHT +0.35+2.55+0.20
ENTRA LIGHT +1.20+1.60+0.40
LIGHT +1.40+1.80+0.40
MEDIUM +0.95+1.45+0.50
HEAVY +0.30+0.80+0.50
Prices at Ras Tanura for Saudi oil destined for the Mediterranean are set against the ICE Brent:
MEDITERRANEAN
APRIL MAY CHANGE
EXTRA LIGHT -1.10-1.40-0.30
MEDIUM -2.50-2.50 0.00
heavy – 3.20 – 3.20 0.00
ARABIA 5AM NEWS 