Saudi Arabia raised the price of its crude oil (all grades) to Asia, 3rd straight month

Bloomberg cites a price list it has seen, showing price hikes to Asia for a third consecutive month as Saudi Arabia works to tighten the oil market.

• June official selling price of Arab Light crude for customers in Asia up 90 cents to $2.90 a barrel (above the regional Oman-Dubai benchmark)
• estimates were for 60 cent increase
• prices for other lighter and heavier varieties were increased, from May

Oil futures trade opens at 6pm Sunday evening US Eastern time.

This article was written by Eamonn Sheridan at www.forexlive.com.