Middle East Economic Survey

VOL. LIII

No 19

10-May-2010

Saudi Crude Prices Mainly Raised For June Deliveries

Saudi Aramco announced its June crude oil pricing formulas to customers on 4 May, raising the prices of most crudes destined for the US, Northwest Europe and Asia, but reducing all prices for the Mediterranean. Usually pricing is primarily based on the performance of competing sour crudes in the regional spot markets, but the small price rises for the US are at odds with a strengthening of...