Monday, August 6, 2007

Saudi Aramco Raises Heavy Variety Crude Prices for Asia to 26-Month High

(Bloomberg) -- Saudi Aramco, the world's largest
state oil company, raised September prices of its heavy crude
oil varieties for Asian customers to a 26-month high as
refining profit from making fuel oil gained.

Arab Medium grade's discount to benchmark varieties was
narrowed by 50 cents to $1.35 a barrel and Arab Heavy's
differential was reduced by 70 cents to $3.60 a barrel, said
three Asian officials who asked not to be identified, citing
confidentiality. The two grades yield more fuel oil.


Read more at Bloomberg Energy News

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