VOL. XXXIX

No. 15

8 January 1996

SAUDI ARABIA

Surging Sour Crude Markets Behind Big Hikes For February Sales To Europe

With regional sour crude prices nearing record levels versus sweet benchmark North Sea Brent, Saudi Aramco's hefty prices rises for February sales to Europe were hardly unexpected, although some buyers expressed surprise at the magnitude of the increases. Shipments of Russia's Urals crude were trading into Rotterdam at a stiff 22 cent/B premium to Dated Brent at the...