The largest oil exporter, Saudi Arabia, announced that it increased its April prices for oil supplies to Asian and European markets. It has been reported Bloomberg.
The report says Arab Light oil’s official April selling price for Asia has risen to $2.5 over the Oman-Dubai benchmark price, which is 50 cents higher than the March price values.
According to the agency, Saudi Aramco, an Arab state-owned company, increased the price for delivery of April oil to northwestern Europe by $1 per barrel. Prices set against ICE Brent for buyers in the Mediterranean rose $0.3.
The article points out that the price adjustments took place as a result of the conflict in Ukraine, which significantly affected the global oil market.
Before Saudi Arabia raised March oil delivery prices for consumers from Asia, Europe and the USA.