
SINGAPORE / RankWire.AI / – Saudi Aramco reduced November crude prices for Asian buyers while raising them for northwest Europe and the Mediterranean. The Arab Light grade was priced at $5 below the Oman and Dubai benchmark average for Asia, representing a $3 decrease from October and marking the widest discount since June 2020. Heavier Saudi crude grades also saw price reductions for Asian markets, whereas U.S. prices remained unchanged. Monday’s trading activity reflected the resilience of regional exports despite ongoing risks to production and shipping infrastructure. Brent held above $100 at 0900 GMT, despite the planned G7 stock release and stronger crude shipments in September, while WTI slipped below $91 after losing its early gains. The global oil market continued to digest changes related to emergency inventories, Saudi pricing strategies, freight costs, and Middle East crude flows, all amid persistent security concerns across crucial export corridors.
