2019-06-03 12:35:00
ARAMCO'S OIL PRICES DIFFERENCES
PLATTS - Saudi Aramco has raised the price differentials for all of its five crude oil grades loading in July and bound for Asia, the company said in a notice Sunday.
Aramco hiked the July price differential for its flagship Arab Light grade by 60 cents/b to a premium of $2.70/b to the average of Oman/Dubai, the highest since January 2014, when it was a premium of $3.75/b to Oman/Dubai.
The Arab Medium and Heavy grade July price differentials were raised by 50 cents/b from June to a premium of $1.95/b to Oman/Dubai and 60 cents/b from June to a premium of 75 cents/b to Oman/Dubai respectively.
This was the highest differential for both grades since January 2012, when the Arab Medium grade price differential was at a premium of $2.75/b to Oman/Dubai, and the Arab Heavy grade price differential at a premium of $1.35/b to Oman/Dubai.
Aramco also raised the July OSP differential for its Arab Extra Light crude grade bound for Asia by 50 cents/b from June to a premium of $3.20/b to Oman/Dubai. It raised the July OSP differential for Arab Super Light by 30 cents/b from June to a premium of $4.85/b to Oman/Dubai.
The July Arab Extra Light grade price differential was the highest since July 2018, when it was at a premium of $3.30/b to Oman/Dubai, while the July Arab Super Light grade price differential was the highest since November 2018, when it was at a premium of $5.45/b to Oman/Dubai.
SAUDI ARAMCO'S JUNE OSP DIFFERENTIALS FOR ASIA ($/B)
| Benchmark | Mar | Apr | May | Jun | Jul | Change | |
| Super Light | (Oman+Dubai)/2 | 3.05 | 3.05 | 3.35 | 4.55 | 4.85 | 0.30 |
| Extra Light | (Oman+Dubai)/2 | 0.95 | 1.45 | 1.70 | 2.70 | 3.20 | 0.50 |
| Arab Light | (Oman+Dubai)/2 | 0.7 | 1.20 | 1.40 | 2.10 | 2.70 | 0.60 |
| Arab Medium | (Oman+Dubai)/2 | 0.45 | 0.85 | 1.05 | 1.45 | 1.95 | 0.50 |
| Arab Heavy | (Oman+Dubai)/2 | -0.65 | -0.45 | -0.25 | 0.15 | 0.75 | 0.60 |
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Earlier:
2019, May, 31, 12:35:00
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2019, May, 21, 15:45:00
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2019, May, 21, 15:40:00
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2019, May, 17, 07:55:00
OIL NEED PEACE
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