Oil – Saudi price rises, oil trading higher

Reuters have popped up an week-opener also, citing the rise for futures on the hike in prices from Saudi Arabia over the weekend. ICYMI:

Reuters add:

  • Saudi Arabia raised prices sharply for its crude sales in July, an indicator of how tight supply is even after OPEC+ agreed to accelerate its output increases over the next two months.

Yep. I described the hike in output last week as a ‘drop in the bucket’.

CL update:

cl oil 06 June 2022
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