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Saudi Aramco has raised the price differentials for all of its five crude oil grades loading in July and bound for Asia. the company said in a notice Sunday.
Aramco hiked the July price differential for its flagship Arab Light grade by 60 cents b to a premium of $2.70 b to the average of Oman Dubai. the highest since January 2014. when it was a premium of $3.75 b to Oman Dubai.
The Arab Medium and Heavy grade July price differentials were raised by 50 cents b from June to a premium of $1.95 b to Oman Dubai and 60 cents b from June to a premium of 75 cents b to Oman Dubai respectively.
This was the highest differential for both grades since January 2012. when the Arab Medium grade price differential was at a premium of $2.75 b to Oman Dubai. and the Arab Heavy grade price differential at a premium of $1.35 b to Oman Dubai.
Aramco also raised the July OSP differential for its Arab Extra Light crude grade bound for Asia by 50 cents b from June to a premium of $3.20 b to Oman Dubai. It raised the July OSP differential for Arab Super Light by 30 cents b from June to a premium of $4.85 b to Oman Dubai.
The July Arab Extra Light grade price differential was the highest since July 2018. when it was at a premium of $3.30 b to Oman Dubai. while the July Arab Super Light grade price differential was the highest since November 2018. when it was at a premium of $5.45 b to Oman Dubai.
