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Saudi Aramco has lowered its oil price, cut from record levels

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 Info via Arab News

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