Saudi Arabia cuts September export price for all crude grades

05 August 2010

Saudi Aramco has lowered official selling prices for September on all crude grades for customers in Asia and Europe, and cut prices for light grades to the US, Bloomberg has reported. The formula price of Aramco's Arab Super Light to Asia was cut the most among cargoes heading east, dropping by 85 cents a barrel to 25 cents a barrel above the benchmark Dubai price assessment published by Platts. For shipments to the US, Aramco cut the premium for Arab Extra Light crude to $1.15 a barrel above the Argus Sour Crude Index, 30 cents lower than August cargoes.

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