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2026-04-06 17:42:24
[Saudi Arabia's premium for Asian crude oil surges to a record $19.50, Middle East conflict completely disrupts energy pricing] ⑴ Saudi Aramco, the Saudi state-owned oil producer, has raised the price of its flagship Arab Light crude oil to Asian refiners next month to a record premium of $19.50 over the regional benchmark. ⑵ This move comes as the escalating conflict in the Middle East and Iran's near closure of the Strait of Hormuz are severely impacting the energy market, prompting Saudi Arabia to significantly increase its official selling price to Asia. ⑶ However, traders point out that this premium level is about half of what a Bloomberg survey predicted, and is particularly difficult to predict this month due to the volatile Middle East indices since the war and the sharp price drop near the end of the month, creating an exceptionally complex pricing environment.
