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).


Ticker Price Volume
QNBK 136.89 585,656
SABIC 109.63 4,074,014
DHPS 0.00 0
BURUJ 34.43 173,423
STC 78.46 608,513
ARNB 28.92 230,664
EEC 15.18 2,582,711
(In US Dollar) Change Change(%)
Brent 66.05 -0.16 -0.24
WTI 62.06 -0.28 -0.45
OPEC Basket 62.74 0.5 0.8
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