Market Eye: Saudis Raise Prices for Asia on Strengthening Demand

摘要

Saudi Arabia's formula prices for August term crude exports to Asia-Pacific rose for all grades on the back of stronger demand for Middle East oil in the region as refining margins improved, traders said Wednesday, considering the hikes to be fair enough on the whole. "Prices are up on a stronger Dubai structure versus last month and because the net product worth is stronger than before, so it is justifiable," one Saudi crude lifter told International Oil Daily. "The Saudi prices are quite fair."