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Saudi Arabia raises December crude oil prices to Asia

Saudi Arabia has raised its December official selling price (OSP) for its Arab Light grade for Asian customers by $0.40 a barrel versus November to a premium of $3.40 per barrel to the Oman/Dubai average, state oil company Aramco said on Monday.

The world’s top oil exporter was expected to raise prices of light crude grades it sells to Asia in December amid higher Middle East benchmarks, while a slump in fuel oil margins could lead to a deep price cut for its heavy grade, a Reuters survey showed.

Saudi Arabia raised its December Arab Light OSP for Northwest Europe, setting it at a discount of $0.05 a barrel to ICE Brent, up $2.80 a barrel from November.

The Arab Light OSP to the United States was set at a premium of $3.35 a barrel to the Argus Sour Crude Index (ASCI) for December, up 40 cents from the previous month.

The tables below show the full FOB prices for December in U.S. dollars. Saudi term crude supplies to the United States are priced as a differential to the Argus Sour Crude Index (ASCI).

UNITED STATES

DEC NOV CHANGE EXTRA LIGHT +5.00 +4.50 +0.50 LIGHT +3.35 +2.95 +0.40 MEDIUM +1.55 +1.35 +0.20 HEAVY +0.80 +0.60 +0.20 Prices at Ras Tanura destined for Northwest Europe are set against ICE Brent: NW EUROPE

DEC NOV CHANGE EXTRA LIGHT +3.30 -0.40 +3.70 LIGHT -0.05 -2.85 +2.80 MEDIUM -3.40 -5.20 +1.80 HEAVY -6.20 -7.20 +1.00 Saudi term crude supplies to Asia are priced as a differential to the Oman/Dubai average: ASIA

DEC NOV CHANGE SUPER LIGHT +6.75 +4.35 +2.40 EXTRA LIGHT +5.10 +3.60 +1.50 LIGHT +3.40 +3.00 +0.40 MEDIUM +2.15 +2.35 -0.20 HEAVY +0.45 +0.95 -0.50 Prices at Ras Tanura for Saudi oil destined for the Mediterranean are set against the ICE Brent: MEDITERRANEAN

DEC NOV CHANGE EXTRA LIGHT +3.45 +1.05 +2.40 LIGHT 0.00 -1.70 +1.70 MEDIUM -2.90 -4.20 +1.30 HEAVY -5.25 -6.05 +0.80
Source: Reuters (Reporting by Rania El Gamal, editing by Louise Heavens)

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