Saudi Arabia Raises Oil Prices As Demand Recovers

Saudi Arabia’s oil giant Aramco raised the price for all its crude oil grades to all regions for June in a move that analysts see as the start of demand recovery—and this move sent oil prices jumping early on Thursday after the price announcement.   Saudi Arabia’s flagship Arab Light crude grade will be sold in Asia in June at a $5.90 a barrel discount to the Oman/Dubai average. This is a rise in prices by $1.40 a barrel from May, Reuters reported on Thursday, citing a document with the Saudi official selling…