Feb 06 2012 |
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UPDATE: Saudi Cuts March Arab Light Crude Asia OSP To +$1.55
Monday, Feb 06, 2012
(Adds prices of all grades and other regions from third paragraph; price table at the end.)
By Gurdeep Singh
Of DOW JONES NEWSWIRES
SINGAPORE (Dow Jones)--Saudi Arabian Oil Co., or Saudi Aramco , has cut its official selling price for March term supply of Arab Light crude oil to Asia, the state-owned company said in an official notice late Sunday.
Saudi set the March OSP for Arab light to Asia at a premium of $1.55 to Oman-Dubai quotes, compared with a premium of $2.05 in the previous month.
The March OSP for Arab light to Northwest Europe was set at a discount of $0.85 to the Brent Weighted Average, or BWave, compared with a discount of $1.75 in the previous month.
Saudi Aramco 's crude oil official selling prices, in U.S. dollars a barrel, follow:
To Northwest Europe, as a differential to the Brent Weighted Average or BWave:
Grade March Feb Change
Extra Light +1.55 +0.70 +0.85
Light -0.85 -1.75 +0.90
Medium -2.40 -3.55 +1.15
Heavy -4.30 -5.55 +1.25
To the Mediterranean, as a differential to the Brent Weighted Average or BWave:
Grade March Feb Change
Extra Light +1.45 0.00 +1.45
Light -1.10 -2.20 +1.10
Medium -2.45 -3.80 +1.35
Heavy -4.40 -5.80 +1.40
To Asia, as a differential to the Oman-Dubai average:
Grade March Feb Change
Super Light +4.20 +4.10 +0.10
Extra Light +3.10 +3.55 -0.45
Light +1.55 +2.05 -0.50
Medium +0.25 +0.75 -0.50
Heavy -0.85 -0.45 -0.40
To the U.S., as a differential to West Texas Intermediate:
Grade March Feb Change
Extra Light +1.85 +2.20 -0.35
Light -0.05 +0.25 -0.30
Medium -2.15 -1.90 -0.25
Heavy -3.75 -3.60 -0.15
(END) Dow Jones Newswires
06-02-12 0310GMT
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