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 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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