Saudi crude oil prices for July raised for western buyers

Business News

Jun 11, 2007, 15:47 GMT

Nicosia Saudi Aramco raised all its July crude oil pricing formulas for the United States and Europe, but widened the light- heavy differential for deliveries to Asia, the Middle East Economic Survey (MEES) reported Monday The state-owned company's decision was based on the performance of competing products in the three regional markets, according to the Cyprus-based weekly publication. MEES said that for July deliveries to the US, where Saudi Aramco uses the West Texas Intermediate (WTI) as its benchmark, prices were raised across the board 60 cents to 1.50 dollars a barrel. For deliveries to Europe over the same month, prices were raised, by 10 to 90 cents a barrel, while for July deliveries to Asia, prices were mixed. Arab Super Light was raised by 40 cents a barrel to a record premium against Oman and Dubai, while Arab Extra Light was increased by 25 cents a barrel and Arab Light was left unchanged. Arab medium and Heavy crudes were lowered by 15 cents and 30 cents a barrel, respectively. Meanwhile, Gulf producers Abu Dhabi, Oman and Qatar raised their retrospectively-quoted price for May crude prices by ten to 89 cents a barrel. Abu Dhabi raised the prices of its four main crudes by 70 and 80 cents a barrel to a range of 64.05 to 68.45 dollars a barrel, Oman upped its benchmark Ministry of Gas (MOG) crude by 72 cents a barrel to 64.17 dollars a barrel, and Qatar increased its Oman MOG-based formulas by 10 to 17 cents a barrel. In actual prices, Qatars Dukhan and Marine crudes were up 89 cents and 82 cents a barrel, respectively, to 67.60 and 64.27 dollars a barrel, respectively. © 2007 dpa - Deutsche Presse-Agentur

Your Talkback on this Story

Note posts made on our older Talkback system will still show below. However, new posts can only be made via the new system (above). We will export the old comments to the new shortly. You can still comment as a guest on the new system but it also allows you to login using various social network and other accounts.

Other features coming soon.

Talkback

page: 1

americanbobJun 11th, 2007 - 15:59:12

how dare they treat us this way! why don't we just go there and take the oil we need from that comunist oriented, state owned, theocracy governed, terrorist suporting fundamentalist so called nation?

Report this comment

Ogbonz Oil 'N' Gas Ltd.Jul 24th, 2008 - 12:35:03

A credible agent/broker in Nigeria is searching for a genuine buyer of crude oil.Details are as follows:

Product:Bonny Light Crude Oil(BLCO)
Mode Of Shipment:TTT(Tank To Tank);TTO(Tanker Take Over);CIF(Cost And Freight);and FOB(Free On Board)
Quantity:2 million Barrels per shipment(2Mbls)
Quality:International Standard
Contract:One year and above
Price/discount:Negotiable
Commissions:Negotiable
2% Performance Bond:Negotiable
Please this email is for serious and genuine buyers.Please DO NOT contact if not genuine.
I hope to hear from you

Thanks

Mr. Kelly Lawrence
kelechi_ibomisii@live.com
+234-8037094779
+234-8025943143

Report this comment

page: 1

Business

Saudi crude oil prices for July raised for western buyers

Business News

Your Talkback on this Story

Talkback

Similar articles

Latest Headlines in Business

From Sites We Like

Latest PopEater News

Latest Cinema Blend News

Latest Tech Herald News

In Monsters and Critics

Corporate

The Fine Print