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2026-04-06 14:05:37
[Saudi Arabia Raises Premium for Asian Crude Oil to Record High of $19.50] (1) As Iran's near blockade of the Strait of Hormuz disrupts regional energy transport, uncertainty surrounding the conflict has triggered severe market volatility, prompting Saudi Arabia to raise the price of its flagship crude oil for Asia to a record high. (2) According to price lists, state-owned oil producer Saudi Aramco raised the premium for its flagship Arab Light crude oil, sold to Asian refiners in May, to $19.50 above the benchmark price. (3) This increase is lower than the $40 premium expected by traders and refiners in an institutional survey. The US-Israeli military action against Iran has disrupted global energy markets.
