Saudi Arabia lowered the price of its Arab Light crude grade to Asia and Europe for the month of June
- Oil producer Saudi Aramco released the new pricing on Sunday.
- price of the Arab Light benchmark sold in the US in June unchanged from the previous month
- Arab Light sold in June in the Far East priced $4.40 per barrel above the average of the Oman and Dubai benchmarks, compared to a price differential of +$9.35 in May (Asia pricing hit an all time high for May)
- For buyers in northwest Europe, the Arab Light price differential versus the ICE Brent was +$2.10 per barrel in June compared to +$4.60 in May