Saudi Arabia raised almost all oil prices for Asia and Europe for September as supply constraints and rising demand tighten the crude market.
State-owned Saudi Aramco raised the price of Arab Light crude for sale to Asia by 30 cents to $3.50 a barrel above the benchmark, it said in a price list.
Aramco sells about 60% of its crude to Asia, mostly under long-term contracts whose prices are renegotiated every month. The biggest buyers are China, Japan, South Korea and India.
Arab Light crude in the Mediterranean was raised by $1 to $4.50 a barrel more than ICE Brent, and the price for it to Northwest Europe was raised by $2 to a premium of $5.80 to the benchmark.
All prices for the US were left unchanged for September.