Saudi Arabia sets record oil premium amid Hormuz crisis
after close1 source ↓written by the desknot a recommendation
Saudi Arabia has raised its Arab Light crude price for May sales to a record premium of $19.50 per barrel over the regional benchmark for Asian refiners. This increase comes amid disruptions in the Strait of Hormuz, which have unsettled global energy markets. Brent crude prices have surged by over 50% due to these tensions, impacting fuel prices worldwide.
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