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Saudi Arabia Raises March Crude Prices For Asia, First Time Since Sep

OIL

Saudi Arabia raised oil prices for Asian markets for March in an unexpected move, amid falling oil prices this year according to Bloomberg.

  • Saudi Aramco increased most prices for crude that will be shipped to Asia in March. The Arab Light Grade price was raised by $2/bbl above the regional benchmark, 20 cents more than the price for this month.
  • This marks the first increase for the grade since September and goes against predictions of a Bloomberg survey of traders and refiners which predicted a cut of 20 cents.

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