Saudi Arabia Hikes Oil Prices To Asia Once Again

Saudi Arabia on Tuesday raised again the price of its oil going to Asia in August to close to record differentials, in a widely expected move that tracks strong refining margins and expectations of robust demand. Saudi Aramco announced on Tuesday that it was lifting its official selling prices (OSP) to all regions except the United States, where no change in differentials was made. The price of Saudi Arabia’s flagship Arab Light crude grade to Asia in August was raised by $2.80 a barrel to $9.30 per barrel over the Dubai/Oman benchmark, off…