Saudi Arabia cuts Arab Light Asia price with $5/bbl discount
Business
Saudi Arabia just cut its Arab Light crude oil price for Asia to a $5 a barrel discount for November 2026, something no one saw coming, since most expected prices to go up.
This follows the restoration of much of the flow through the East-West pipeline after it was damaged by an attack.
Mideast oil exports recover despite rerouting
Middle Eastern oil exports are now almost back to prewar levels, but shipping costs are still high and are making things tricky.
Because there are still risks in the Strait of Hormuz, many customers are rerouting their shipments through the Gulf of Oman, which adds extra hassle and expense.