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Saudi Arabia on Sunday cut the February price of its flagship Arab Light crude to Asian customers to the lowest level in 27 months, a company statement showed. The world's largest oil company, Saudi Aramco, slashed the official selling price (OSP) for February-loading Arab Light to Asia by $2 a barrel from January to $1.50 a barrel over Oman/Dubai quotes, a level last seen for November 2021.
From Boeing's investigation to COSCO's shipping suspension due to Red Sea attacks, and Saudi Arabia's crude price cut, along with Audacy's bankruptcy filing, here's a look at some of the developments from the world of business.
Brent for March settlement dropped 1.1% to $77.91 a barrel at 12:01 p.m. in Singapore.
NEW DELHI: Oil prices fell by more than 1% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in...
Oil prices were drifting lower after Saudi Arabia slashed the price for its flagship Arab Light crude to Asian customers, a barometer for how the kingdom sees…