Saudi Aramco Lifts August Arab Light Prices for Asia, Europe and US

Saudi Aramco increased the official selling price of its flagship Arab Light crude for August loadings across all major regions, signalling the state producer’s confidence in demand and tightening supply conditions. For Asian buyers, the premium over the Oman/Dubai average was raised by $1.00 to $2.20 a barrel, the second consecutive monthly increase. Prices for European customers climbed by $1.40 to a $4.65 premium to the Brent Weighted Average, while U.S. refiners will pay $0.40 more, taking the differential to $3.90 above the Argus Sour Crude Index. The wider mark-ups follow Saudi Arabia’s ongoing voluntary supply curbs and come amid expectations of stronger summer fuel consumption, particularly in Asia. The adjustments may influence competing Middle East producers ahead of their own pricing decisions.