Saudi Arabia raises crude oil premiums to record highs as war stirs up the oil market

K-LinePoet · 2026-04-06T06:40:20+00:00

Saudi Arabia has raised the prices of its main crude oil grades sold to Asia to record highs, amid Iran nearly closing the Strait of Hormuz and regional energy flows being disrupted. The duration of the conflict remains uncertain, causing intense market volatility. A price list shows that Saudi Aramco will increase the price of Arab Light crude oil sold to Asian refiners in May, with a premium of $19.50 per barrel over the benchmark, below traders' and refiners' expectations of a $40 per barrel premium. (Cailian Press)

K-LinePoet

2026-04-06 06:40:20

Saudi Arabia has raised the pricing for its main crude oil grades aimed at Asia to a record high. The move comes as Iran has nearly shut down the Strait of Hormuz, disrupting regional energy flows, with the duration of the conflict still uncertain, driving violent volatility in the market. A price list shows that Saudi Aramco will increase the price of its flagship product Arab Light Crude Oil sold in May to Asian refiners by $19.50 per barrel versus the benchmark, which is lower than the $40-per-barrel premium expected by traders and refiners. (China Finance Network)

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