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Saudi Arabia raised the price of its flagship crude to Asia for a third consecutive month, as the kingdom tries to tighten the oil market to prevent a global surplus.
Forex news for Asian trading on Monday, 6 May 2024
(Bloomberg) -- Oil steadied after the biggest weekly drop since February as Saudi Arabia hiked selling prices for grades to Asia for the third month in a row, signaling confidence in the outlook with the OPEC+ cartel cutting supply.Most Read from BloombergTruce Talks Shift to Qatar as Hamas Hits Israel Border CrossingFrance’s Macron Calls for Reset of Economic Ties With ChinaBuffett Praises Apple After Trimming It, Drops Paramount StakeTreasury Rally Risks Running Into a $125 Billion Brick Wall‘
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Saudi Arabia’s oil giant has raised the official selling price of all grades of its exports to Asia, with Arab Light for delivery in June set to rise by $0.90.