Increase in Saudi Heavy Crude Price Puzzles Market

摘要

Saudi Aramco has lowered its official formula prices for crude exports to Asia, with the exception of a surprise increase for its heavy, sour Arab Heavy grade that has puzzled some market players. For the most part, the declines are more or less in line with the recent weakening of the Dubai futures price structure, as the market would normally expect. Aramco’s price levels might also have been influenced by significantly firmer Asian refining margins.