Saudi Arabian Oil Co. late Wednesday raised the price at which it will sell oil to Asia for the second consecutive month, as well as increasing prices for the United States.
The state-run company, also known as Saudi Aramco, raised all prices for Far East Asia, increasing its Arab light crude oil by $0.70 cents a barrel and giving it a $1-a-barrel premium over the Oman/Dubai average.
Aramco also raised prices for the U.S. by $0.20 cents a barrel for all varieties, and gave its Arab light crude a $0.75-cents-a-barrel premium over the Argus Sour Crude Index.
Meanwhile, the company trimmed its prices for all crude varieties sold into Europe and the Mediterranean by $0.50 cents, leaving its light crude with a $1.90 discount and a $1.50 discount versus Brent, respectively.
