Saudi Arabia to hike oil prices to US in April

Saudi Aramco has raised official selling prices for all crude grades, except heavy, for customers in the USA for April and lowered prices on all grades to Europe and most for Asia, Bloomberg has reported. The company increased the formula price of its Arab Light crude to the US the most, raising it by 15 cents a barrel, or 20%, to a 60 cent discount off the benchmark Argus Sour Crude Index, the company said in a statement. It boosted the premium for Extra Light crude to 95 cents above the benchmark, also a 15 cent change.