Saudis Raise Oil Pricing to U.S., Asia
Saudi Arabia raised pricing for August oil shipments to Asia, the U.S. and northern Europe amid signs that energy demand is continuing to recover from its coronavirus-triggered collapse, Bloomberg reports.
State producer Saudi Aramco increased all its grades to Asia by $1 a barrel for August. It raised U.S. pricing by between $0.20 and $0.40, with the Light grade hiked by $0.30 to a premium of $1.65. Prices for most grades sold to northwestern European customers -- the main hub for which is Rotterdam -- were also increased. The only region to see cuts was the Mediterranean, where Aramco reduced prices by as much as $1 a barrel.
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