Saudi Arabia raises oil prices to a record premium of $19.50 per barrel

GateUser-bd883c58 · 2026-04-06T14:41:48+00:00

Ask AI · Why is Saudi oil price premium below the expected $40?【Saudi Arabia raises oil prices to a record premium of $19.50 per barrel】Caixin, April 6 — As Iran nearly blocks the Strait of Hormuz, causing disruptions to regional energy transportation, and with the uncertainty of the conflict's duration triggering intense market volatility, Saudi Arabia has increased the prices of its main crude oil exports to Asia, reaching a historic high. According to a price list, Saudi Aramco raised the premium of Arab Light crude oil sold to Asian refiners in May to $19.50 above the benchmark price, which is lower than the $40 per barrel premium expected by traders and refiners in surveys.

GateUser-bd883c58

2026-04-06 14:41:48

Ask AI · Why are Saudi oil price premiums lower than expected by $40?

[Saudi Arabia raises oil prices to a record high premium of $19.50 per barrel] Caixin Media, April 6 — As Iran nearly locks down the Strait of Hormuz, disrupting regional energy transport, and uncertainty about how long the conflict will last sparks intense market volatility, Saudi Arabia has raised the benchmark crude oil prices it sells to Asia, setting a record high. According to a price list, Saudi Aramco has raised the premium for its flagship product, Arab Light crude oil, sold to Asian refiners in May, to $19.50 above the benchmark oil price. This increase is lower than the $40 per-barrel premium expected by traders and refiners in an industry survey.

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