05/09/2017 08:24 AST

Saudi Arabia has raised its October price for its Arab Light grade for Asian customers by $0.55 (Dh2.02) a barrel versus September to a premium of $0.30 per barrel to the Oman/Dubai average, its state oil company said on Monday.

The price rise reflect a stronger market for Middle East crude benchmark Dubai and refining margins which hit a near two-year high on Sept. 1 after Hurricane Harvey disrupted fuel supplies in the United States.

The October price for Arab Light is the highest since December and exceeds expectations for a 20-50 cent hike in a Reuters survey conducted last week.

Saudi Aramco dropped its Arab Light OSP to Northwest Europe by 10 cents for October to a discount of $2.15 per barrel to ICE Brent.

The Arab Light OSP to the United States was set at a premium of $1.30 a barrel to the Argus Sour Crude Index (ASCI) for October, up 10 cents a barrel from September. Saudi term crude supplies to the United States are priced as a differential to the Argus Sour Crude Index (ASCI).


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Ticker Price Volume
QNBK 123.01 258,855
SABIC 100.60 653,920
SALAMA 20.90 61,115
BURUJ 34.50 15,272
WALAA 26.80 7,281
TRADEUNION 21.04 18,985
SOLIDARITY 20.14 28,887
(In US Dollar) Change Change(%)
Brent 55.62 0.15 0.27
WTI 49.89 0.00 0.00
OPEC Basket 53.63 0.71 1.34
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