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Crude Rebounds Slightly With Saudi OSP Hike

OIL

Crude has moved back into positive territory following headlines that Saudi Aramco is raising its October OSP for Arab Light Crude to Asia, albeit below expectations.

  • Brent NOV 23 up 0.3% at 90.27$/bbl
  • WTI OCT 23 up 0.5% at 87.14$/bbl
  • Saudi Arabia raised its October Arab Light OSP to Asia to a $3.60/bbl premium, up by 0.10ct/bbl from September levels. Analyst surveys from Reuters and Bloomberg expected a 0.30ct/bbl hike to prices.

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