Saudi Arabia Eyes September Crude Price Hike for Asia

Saudi Arabia is expected to raise the official selling price (OSP) of Arab Light crude to Asia for September-loading cargoes, according to trading sources cited Monday by Reuters. The anticipated hike would mark a second consecutive monthly increase as regional refining margins strengthen and domestic crude burn limits outbound volumes. Forecasts suggest Arab Light’s premium may rise by $0.90 to $1.05 per barrel over the Oman/Dubai average, placing the final differential in the range of $3.10 to $3.25, trading desks told Reuters. Other grades,…