SAUDI ARABIA/OIL PRICES
Saudi Crude Prices Raised For Europe, Heavier Grades Reduced For US And Asia
Saudi Aramco announced its September crude oil contract prices to customers on 5 August, raising all prices to Europe while reducing the cost of heavier grades to the US and Asia. Saudi Aramco bases its pricing formulas mainly on recent spot price movements for competing crudes in the regional markets.
The formulas for September 2012 and the previous...